Citizens Financial Group Inc. RI Sells 2,049 Shares of Newmont Co. (NYSE:NEM)

Citizens Financial Group Inc. RI reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,974 shares of the basic materials company’s stock after selling 2,049 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Newmont were worth $4,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Atria Investments Inc grew its position in Newmont by 33.8% during the 3rd quarter. Atria Investments Inc now owns 8,352 shares of the basic materials company’s stock worth $446,000 after acquiring an additional 2,108 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Newmont by 5.4% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 7,725 shares of the basic materials company’s stock valued at $413,000 after buying an additional 394 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in Newmont by 15.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 25,149 shares of the basic materials company’s stock worth $1,344,000 after buying an additional 3,441 shares during the period. Legacy Capital Wealth Partners LLC bought a new stake in Newmont during the 3rd quarter worth approximately $211,000. Finally, Baker Avenue Asset Management LP acquired a new position in Newmont in the 3rd quarter valued at approximately $214,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $43.45 on Wednesday. The business has a 50-day simple moving average of $42.76 and a 200 day simple moving average of $45.87. The firm has a market capitalization of $48.96 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.41 and a beta of 0.54. 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 one year low of $33.29 and a one year high of $58.72.

Newmont (NYSE:NEM) last issued 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 return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 directly owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One equities 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

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.