Newmont Co. (NYSE:NEM) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in shares of Newmont Co. (NYSE:NEM) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,353 shares of the basic materials company’s stock after selling 18,416 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Newmont were worth $6,899,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Waverton Investment Management Ltd increased its holdings in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB boosted its position in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after purchasing an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC purchased a new stake in shares of Newmont in the third quarter valued at approximately $1,263,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Newmont stock opened at $45.25 on Monday. The firm has a 50 day simple moving average of $41.56 and a 200-day simple moving average of $46.45. The stock has a market cap of $51.52 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. On average, analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.21%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Analyst Ratings Changes

NEM has been the topic of a number of recent analyst reports. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $53.37.

Insider Buying and Selling at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at approximately $5,874,514.63. The trade was a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 over the last 90 days. 0.06% of the stock is owned by insiders.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.