Newmont Co. (NYSE:NEM) Stake Lowered by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI decreased its stake in Newmont Co. (NYSE:NEM) by 64.5% during the 4th quarter, HoldingsChannel reports. The firm owned 126,459 shares of the basic materials company’s stock after selling 229,405 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $4,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Patten Group Inc. boosted its holdings in shares of Newmont by 3.7% during the fourth quarter. Patten Group Inc. now owns 44,257 shares of the basic materials company’s stock valued at $1,647,000 after acquiring an additional 1,568 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Newmont by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,850,404 shares of the basic materials company’s stock valued at $254,972,000 after purchasing an additional 92,354 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new position in Newmont during the 4th quarter valued at about $246,000. DJE Kapital AG bought a new position in Newmont in the 4th quarter worth about $27,620,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $1,583,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada upped their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock worth $1,166,843 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.3 %

Shares of NYSE:NEM opened at $42.30 on Tuesday. The firm has a 50 day simple moving average of $42.09 and a 200 day simple moving average of $46.21. Newmont Co. has a 52 week low of $31.67 and a 52 week high of $58.72. 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 $47.67 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (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 company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.36%. 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.