Newmont Co. (NYSE:NEM) Stake Lessened by Deutsche Bank AG

Deutsche Bank AG reduced its stake in shares of Newmont Co. (NYSE:NEM) by 55.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,880,910 shares of the basic materials company’s stock after selling 8,560,958 shares during the period. Deutsche Bank AG owned about 0.60% of Newmont worth $256,107,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NEM. HighPoint Advisor Group LLC increased its holdings 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 valued at $223,000 after acquiring an additional 219 shares during the last quarter. Keel Point LLC lifted its position in shares of Newmont by 2.0% in the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company’s stock worth $550,000 after buying an additional 287 shares during the last quarter. Howard Capital Management Inc. boosted its holdings 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 valued at $210,000 after buying an additional 292 shares during the period. Intact Investment Management Inc. raised its stake 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, Fiduciary Financial Group LLC lifted its holdings in Newmont by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 303 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, the director now directly owns 47,257 shares in the company, valued at approximately $2,432,790.36. This represents a 4.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade 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. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several recent research reports. Raymond James restated an “outperform” rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. National Bankshares restated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Cfra Research upgraded Newmont to a “strong-buy” rating in a research report on Friday, April 25th. Scotiabank reissued a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. Finally, National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.63.

Newmont Trading Down 2.1 %

Shares of NYSE:NEM opened at $52.84 on Friday. The firm has a fifty day moving average of $49.47 and a two-hundred day moving average of $45.03. 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 firm has a market capitalization of $58.81 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given 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%.

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.