Wintrust Investments LLC Sells 7,990 Shares of Newmont Co. (NYSE:NEM)

Wintrust Investments LLC lessened its position in Newmont Co. (NYSE:NEM) by 58.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,610 shares of the basic materials company’s stock after selling 7,990 shares during the period. Wintrust Investments LLC’s holdings in Newmont were worth $208,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Studio Investment Management LLC increased its position in Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 261 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. increased its position in shares of Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 292 shares during the last quarter. Fiduciary Financial Group LLC lifted its stake in shares of Newmont by 3.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 303 shares during the period. Finally, Conning Inc. boosted its holdings in shares of Newmont by 6.0% in the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock worth $203,000 after buying an additional 311 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $43.72 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $49.26 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72. The firm’s 50-day moving average is $42.89 and its 200 day moving average is $45.85.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) 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 firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Research analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared 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. This represents a $1.00 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NEM shares. The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Royal Bank of Canada lifted their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank dropped 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at $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. Insiders sold 33,231 shares of company stock worth $1,388,758 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont 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.