Newmont Co. (NYSE:NEM) Holdings Cut by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in Newmont Co. (NYSE:NEM) by 38.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,066 shares of the basic materials company’s stock after selling 85,307 shares during the period. Cetera Investment Advisers’ holdings in Newmont were worth $5,027,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NEM. Czech National Bank grew its stake in Newmont by 5.6% during the 4th quarter. Czech National Bank now owns 246,839 shares of the basic materials company’s stock worth $9,187,000 after buying an additional 13,096 shares during the last quarter. Brookstone Capital Management bought a new position in Newmont during the 4th quarter worth $245,000. Moody National Bank Trust Division grew its position in Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 2,645 shares during the last quarter. Eastern Bank grew its position in Newmont by 20.2% in the 4th quarter. Eastern Bank now owns 4,550 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 765 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in Newmont in the 4th quarter worth about $275,000. 68.85% of the stock is owned by institutional investors.

Newmont Stock Down 1.5%

NEM stock opened at $50.04 on Wednesday. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72. The firm has a market cap of $55.69 billion, a PE ratio of 17.08, a P/E/G ratio of 0.41 and a beta of 0.31. The firm has a 50 day simple moving average of $49.95 and a 200 day simple moving average of $44.93. 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 (NYSE:NEM) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio is presently 22.42%.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. Argus set a $63.00 target price on shares of Newmont in a research report on Friday, April 25th. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Raymond James restated an “outperform” rating and issued a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. National Bankshares restated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.63.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now directly owns 47,257 shares of the company’s stock, valued at $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $328,840 over the last ninety days. Insiders own 0.05% of the company’s stock.

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.