Arrowstreet Capital Limited Partnership Has $14.36 Million Position in Newmont Co. (NYSE:NEM)

Arrowstreet Capital Limited Partnership cut its holdings in Newmont Co. (NYSE:NEM) by 78.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 385,953 shares of the basic materials company’s stock after selling 1,418,123 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Newmont were worth $14,356,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 over the last three months. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Down 8.4 %

NYSE:NEM opened at $44.25 on Friday. The business’s 50-day simple moving average is $45.34 and its 200-day simple moving average is $45.33. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. 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 stock has a market capitalization of $49.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last announced 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 net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday. TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Raymond James boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday. National Bank Financial raised shares of Newmont to a “hold” rating in a report on Friday, March 21st. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.09.

Newmont 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.