Newmont Co. (NYSE:NEM) Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. reduced its position in Newmont Co. (NYSE:NEM) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 241,659 shares of the basic materials company’s stock after selling 17,236 shares during the quarter. Philadelphia Trust Co.’s holdings in Newmont were worth $8,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its holdings in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB increased its stake in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. raised its position in 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 purchasing an additional 865,213 shares during the period. Brookstone Capital Management purchased a new position in shares of Newmont during the 4th quarter worth $245,000. Finally, Moody National Bank Trust Division increased its position in shares of Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on 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 directly owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 over the last quarter. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NEM shares. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James lifted their target price on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Royal Bank of Canada raised their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $54.55.

Newmont Trading Up 7.6 %

NYSE NEM opened at $54.80 on Friday. The company has a market capitalization of $61.77 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 12 month low of $36.60 and a 12 month high of $58.72. The company’s fifty day moving average price is $46.17 and its two-hundred day moving average price is $45.04.

Newmont (NYSE:NEM) last posted its quarterly earnings results 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. As a group, research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

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.