Lindbrook Capital LLC Sells 929 Shares of Newmont Co. (NYSE:NEM)

Lindbrook Capital LLC lowered its stake in Newmont Co. (NYSE:NEM) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,113 shares of the basic materials company’s stock after selling 929 shares during the period. Lindbrook Capital LLC’s holdings in Newmont were worth $153,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NEM. QRG Capital Management Inc. boosted its holdings in shares of Newmont by 3.5% during the 3rd quarter. QRG Capital Management Inc. now owns 21,005 shares of the basic materials company’s stock valued at $1,123,000 after buying an additional 706 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Newmont by 19.2% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 27,798 shares of the basic materials company’s stock worth $1,486,000 after buying an additional 4,469 shares during the last quarter. Graypoint LLC raised its position in Newmont by 21.3% in the 3rd quarter. Graypoint LLC now owns 8,742 shares of the basic materials company’s stock worth $467,000 after buying an additional 1,538 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of Newmont by 6.0% during the 3rd quarter. Confluence Investment Management LLC now owns 11,507 shares of the basic materials company’s stock valued at $615,000 after purchasing an additional 652 shares during the last quarter. Finally, Summit Global Investments purchased a new stake in shares of Newmont during the 3rd quarter valued at about $404,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $43.88 on Friday. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72. The business’s fifty day simple moving average is $42.53 and its 200-day simple moving average is $46.07. The company has a market capitalization of $49.44 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.41 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NEM. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Finally, Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Transactions at Newmont

In related news, 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 completion of the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, 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 sold a total of 33,231 shares of company stock worth $1,388,758 over the last three months. 0.06% of the stock is currently owned by insiders.

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.