Beacon Pointe Advisors LLC Sells 10,270 Shares of Newmont Co. (NYSE:NEM)

Beacon Pointe Advisors LLC trimmed its position in Newmont Co. (NYSE:NEM) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,040 shares of the basic materials company’s stock after selling 10,270 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Newmont were worth $5,436,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Oxford Asset Management LLP increased its position in Newmont by 771.6% during the fourth quarter. Oxford Asset Management LLP now owns 43,022 shares of the basic materials company’s stock worth $1,601,000 after acquiring an additional 38,086 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Newmont during the fourth quarter worth approximately $27,708,000. Cheviot Value Management LLC increased its holdings in shares of Newmont by 2.0% during the fourth quarter. Cheviot Value Management LLC now owns 337,099 shares of the basic materials company’s stock worth $12,547,000 after purchasing an additional 6,671 shares during the period. Nebula Research & Development LLC raised its position in shares of Newmont by 94.4% in the fourth quarter. Nebula Research & Development LLC now owns 32,392 shares of the basic materials company’s stock valued at $1,206,000 after buying an additional 15,726 shares in the last quarter. Finally, Credit Industriel ET Commercial bought a new stake in shares of Newmont in the fourth quarter valued at approximately $97,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NEM shares. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $60.00 in a report on Friday, April 11th. Scotiabank reaffirmed a “sector perform” rating on shares of Newmont in a research note on Monday, April 14th. TD Securities reduced their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada boosted their target price on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. Finally, Raymond James reiterated an “outperform” rating and set a $66.00 price target on shares of Newmont in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.63.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the sale, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,154 shares of company stock worth $825,678. Insiders own 0.05% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $52.95 on Wednesday. The stock’s 50-day moving average is $48.12 and its 200-day moving average is $45.12. The stock has a market cap of $59.69 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1-year low of $36.86 and a 1-year 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 announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the prior year, the company posted $0.55 EPS. Equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s payout ratio is presently 22.42%.

About Newmont

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.