Aire Advisors LLC Sells 1,000 Shares of Newmont Co. (NYSE:NEM)

Aire Advisors LLC decreased its position in shares of Newmont Co. (NYSE:NEM) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,265 shares of the basic materials company’s stock after selling 1,000 shares during the period. Aire Advisors LLC’s holdings in Newmont were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares in the last quarter. Geode Capital Management LLC lifted its stake in Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after purchasing an additional 326,243 shares during the last quarter. Amundi boosted its position in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after buying an additional 1,507,708 shares in the last quarter. Ruffer LLP grew its stake in shares of Newmont by 19.7% during the fourth quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEM shares. CLSA initiated coverage on Newmont in a 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. National Bank Financial raised Newmont to a “hold” rating in a research note on Friday. Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have assigned 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 has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Performance

NEM stock opened at $46.81 on Tuesday. The stock has a market capitalization of $52.76 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $33.86 and a 12-month high of $58.72. 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’s 50 day simple moving average is $44.25 and its 200 day simple moving average is $45.50.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by corporate insiders.

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.