Te Ahumairangi Investment Management Ltd Trims Stock Position in Newmont Co. (NYSE:NEM)

Te Ahumairangi Investment Management Ltd trimmed its position in Newmont Co. (NYSE:NEM) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,168 shares of the basic materials company’s stock after selling 9,550 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Newmont were worth $4,473,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its position in shares of Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 219 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 281 shares in the last quarter. Howard Capital Management Inc. raised 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 worth $210,000 after purchasing an additional 292 shares during the last quarter. Intact Investment Management Inc. boosted its stake in Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 300 shares in the last quarter. Finally, Fiduciary Financial Group LLC grew its position in Newmont by 3.6% during 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 last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 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 $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on NEM shares. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research note on Friday, March 21st. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada upped their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One equities 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Stock Up 0.0 %

Shares of NEM stock opened at $48.29 on Wednesday. The company has a 50 day simple moving average of $45.03 and a two-hundred day simple moving average of $45.35. The stock has a market cap of $54.44 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12 month low of $36.44 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.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.07%. Newmont’s payout ratio is currently 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.