Harvest Fund Management Co. Ltd Trims Stock Holdings in Newmont Co. (NYSE:NEM)

Harvest Fund Management Co. Ltd lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 89.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,829 shares of the basic materials company’s stock after selling 14,734 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Newmont were worth $68,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NEM. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Newmont by 10.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,366 shares of the basic materials company’s stock valued at $544,000 after purchasing an additional 1,397 shares during the period. Xponance Inc. boosted its position in Newmont by 0.6% in the 4th quarter. Xponance Inc. now owns 166,085 shares of the basic materials company’s stock valued at $6,182,000 after buying an additional 1,001 shares during the period. Generali Asset Management SPA SGR bought a new position in Newmont in the 4th quarter worth about $32,742,000. Horizon Investments LLC increased its position in shares of Newmont by 1.6% during the fourth quarter. Horizon Investments LLC now owns 19,885 shares of the basic materials company’s stock worth $740,000 after acquiring an additional 317 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Newmont by 23.3% during the fourth quarter. Advisors Asset Management Inc. now owns 72,300 shares of the basic materials company’s stock valued at $2,691,000 after acquiring an additional 13,645 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NEM. Raymond James reduced their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada boosted 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. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This represents a 3.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 1.1 %

Newmont stock opened at $47.23 on Monday. Newmont Co. has a one year low of $33.86 and a one year high of $58.72. The stock has a market cap of $53.24 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. 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 stock has a 50-day moving average of $44.10 and a two-hundred day moving average of $45.54.

Newmont (NYSE:NEM) last released its 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 company had revenue of $5.65 billion for 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%. On average, research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid 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 yield of 2.12%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Newmont Company Profile

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.