GLOBALT Investments LLC GA Has $1.86 Million Position in Newmont Co. (NYSE:NEM)

GLOBALT Investments LLC GA lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 4.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,894 shares of the basic materials company’s stock after selling 2,588 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Newmont were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Studio Investment Management LLC grew its position in shares of Newmont by 29.4% in the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 261 shares during the period. Confluence Investment Management LLC grew its position in shares of Newmont by 2.4% in 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 period. Howard Capital Management Inc. grew its position in shares of Newmont by 5.4% in 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 period. Intact Investment Management Inc. grew its position in shares of Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 300 shares during the period. Finally, Fiduciary Financial Group LLC grew its position 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 valued at $338,000 after purchasing an additional 303 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NEM shares. Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, Royal Bank of Canada upped their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 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 $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 1.4 %

NEM opened at $46.27 on Monday. Newmont Co. has a 1-year low of $33.29 and a 1-year high of $58.72. The stock’s fifty day simple moving average is $43.20 and its 200 day simple moving average is $45.72. 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 stock has a market cap of $52.14 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating 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 business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

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.