Lbp Am Sa Reduces Stock Holdings in Newmont Co. (NYSE:NEM)

Lbp Am Sa decreased its stake in Newmont Co. (NYSE:NEM) by 66.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 83,115 shares of the basic materials company’s stock after selling 167,296 shares during the period. Lbp Am Sa’s holdings in Newmont were worth $3,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Newmont in the 3rd quarter worth approximately $28,000. HHM Wealth Advisors LLC boosted its holdings in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Promus Capital LLC purchased a new position in Newmont during the 4th quarter valued at $38,000. Finally, McIlrath & Eck LLC boosted its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 1.4 %

NEM opened at $46.27 on Friday. The firm has a market cap of $52.14 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72. The stock has a fifty day moving average price of $43.20 and a 200-day moving average price of $45.76.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, equities research analysts anticipate 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 Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEM. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Scotiabank dropped their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 in the last ninety days. Corporate 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.