Oppenheimer & Co. Inc. Reduces Position in Newmont Co. (NYSE:NEM)

Oppenheimer & Co. Inc. lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 36.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,790 shares of the basic materials company’s stock after selling 93,059 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Newmont were worth $5,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Avior Wealth Management LLC boosted its stake in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Newmont during the 3rd quarter worth $28,000. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. McIlrath & Eck LLC boosted its stake in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Newmont during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NEM shares. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Royal Bank of Canada lifted their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the sale, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. The trade was a 3.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 in the last three months. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $42.83 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a market cap of $48.26 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.41 and a beta of 0.52. The firm’s fifty day moving average is $42.01 and its two-hundred day moving average is $46.30. Newmont Co. has a 52-week low of $30.93 and a 52-week high of $58.72.

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

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. 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.