Swiss National Bank Lowers Stock Holdings in Newmont Co. (NYSE:NEM)

Swiss National Bank lessened its position in shares of Newmont Co. (NYSE:NEM) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,230,905 shares of the basic materials company’s stock after selling 191,700 shares during the period. Swiss National Bank owned approximately 0.28% of Newmont worth $120,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC raised its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont during the 3rd quarter worth $28,000. HHM Wealth Advisors LLC increased its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC purchased a new position in Newmont in the fourth quarter valued at about $38,000. Finally, McIlrath & Eck LLC lifted its stake in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. CLSA began coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. 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 report on Tuesday, February 11th. Finally, Scotiabank reduced their target price 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 research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Newmont Stock Performance

Shares of NEM stock opened at $46.27 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $43.20 and a two-hundred day moving average of $45.81. The company has a market cap of $52.14 billion, a P/E ratio of 15.79, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $33.29 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.16%. Newmont’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’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 value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 in the last ninety days. Company insiders own 0.06% 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.