Gulf International Bank UK Ltd Sells 981 Shares of Newmont Co. (NYSE:NEM)

Gulf International Bank UK Ltd decreased its position in Newmont Co. (NYSE:NEM) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,167 shares of the basic materials company’s stock after selling 981 shares during the period. Gulf International Bank UK Ltd’s holdings in Newmont were worth $3,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Newmont by 0.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 142,583 shares of the basic materials company’s stock valued at $7,621,000 after buying an additional 861 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Newmont by 3.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,438 shares of the basic materials company’s stock valued at $451,000 after acquiring an additional 309 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Newmont during the third quarter valued at about $210,000. Highline Wealth Partners LLC bought a new position in Newmont during the third quarter worth about $32,000. Finally, Golden State Equity Partners purchased a new position in shares of Newmont in the third quarter worth about $436,000. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on NEM. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday. Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada lifted their target price on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Down 3.5 %

Shares of Newmont stock opened at $42.06 on Friday. 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. The firm has a market cap of $47.39 billion, a PE ratio of 14.35, a PEG ratio of 0.41 and a beta of 0.52. The company has a 50 day simple moving average of $41.92 and a two-hundred day simple moving average of $46.34.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

About Newmont

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.