Financial Counselors Inc. Has $2.89 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Financial Counselors Inc. reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 77,763 shares of the basic materials company’s stock after selling 497 shares during the period. Financial Counselors Inc.’s holdings in Newmont were worth $2,894,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Sanctuary Advisors LLC boosted its holdings in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Brookstone Capital Management bought a new stake in Newmont during the fourth quarter worth about $245,000. Finally, Moody National Bank Trust Division raised its holdings in Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 2,645 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Performance

NEM opened at $48.38 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business has a fifty day simple moving average of $44.65 and a 200 day simple moving average of $45.52. Newmont Co. has a 1 year low of $35.37 and a 1 year high of $58.72. The company has a market capitalization of $54.53 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

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 analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont’s dividend payout ratio is 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 over the last three months. 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.