Twinbeech Capital LP Sells 434,212 Shares of Newmont Co. (NYSE:NEM)

Twinbeech Capital LP lowered its stake in shares of Newmont Co. (NYSE:NEM) by 97.4% during the fourth quarter, HoldingsChannel reports. The fund owned 11,774 shares of the basic materials company’s stock after selling 434,212 shares during the quarter. Twinbeech Capital LP’s holdings in Newmont were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HighPoint Advisor Group LLC increased its position in Newmont by 3.8% during the fourth 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 during the period. Keel Point LLC increased its position in Newmont by 2.0% during the fourth quarter. Keel Point LLC now owns 14,774 shares of the basic materials company’s stock worth $550,000 after acquiring an additional 287 shares during the period. Howard Capital Management Inc. increased its position in Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after acquiring an additional 292 shares during the period. Intact Investment Management Inc. increased its position in Newmont by 21.4% during the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 300 shares during the period. Finally, Conning Inc. increased its position in Newmont by 6.0% during the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 311 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Securities decreased their price target 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. National Bankshares reiterated a “sector perform” rating on shares of Newmont in a research note on Wednesday, April 23rd. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research note on Friday, March 21st. 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 note on Friday, April 4th. Finally, Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.52.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now directly owns 47,257 shares of the company’s stock, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $328,840 over the last ninety days. 0.05% of the stock is owned by insiders.

Newmont Stock Performance

Newmont stock opened at $52.66 on Friday. The stock has a 50-day simple moving average of $50.84 and a 200 day simple moving average of $45.15. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $36.86 and a 12-month high of $58.72. The stock has a market capitalization of $58.61 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the business posted $0.55 earnings per share. On average, research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Newmont’s dividend payout ratio is 22.42%.

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.