Level Four Advisory Services LLC Sells 1,019 Shares of Newmont Co. (NYSE:NEM)

Level Four Advisory Services LLC lessened its position in Newmont Co. (NYSE:NEM) by 9.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,976 shares of the basic materials company’s stock after selling 1,019 shares during the period. Level Four Advisory Services LLC’s holdings in Newmont were worth $371,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEM. Sanctuary Advisors LLC grew its position in Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB raised its holdings in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after buying an additional 865,213 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of Newmont during the fourth quarter valued at about $245,000. Finally, Moody National Bank Trust Division increased its position in shares of Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 2,645 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. 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 on the stock. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Scotiabank cut their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Stock Performance

Shares of NEM opened at $48.28 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market cap of $54.43 billion, a PE ratio of 16.48, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $36.10 and a 1 year high of $58.72. The stock’s fifty day moving average price is $44.91 and its two-hundred day moving average price is $45.39.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The business 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, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.07%. The ex-dividend date was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated 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 sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. Corporate insiders own 0.05% of the company’s stock.

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.