Oxbow Advisors LLC Has $5.19 Million Stock Position in Newmont Co. (NYSE:NEM)

Oxbow Advisors LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 139,491 shares of the basic materials company’s stock after selling 7,889 shares during the quarter. Oxbow Advisors LLC’s holdings in Newmont were worth $5,192,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Drum Hill Capital LLC acquired a new stake in shares of Newmont during the 4th quarter worth $1,971,000. ING Groep NV grew its holdings in shares of Newmont by 142.6% during the 4th quarter. ING Groep NV now owns 372,412 shares of the basic materials company’s stock worth $13,861,000 after purchasing an additional 218,904 shares in the last quarter. Boston Financial Mangement LLC grew its holdings in shares of Newmont by 1.8% during the 4th quarter. Boston Financial Mangement LLC now owns 85,485 shares of the basic materials company’s stock worth $3,182,000 after purchasing an additional 1,505 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Newmont by 23.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 34,347 shares of the basic materials company’s stock worth $1,278,000 after purchasing an additional 6,549 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Newmont by 13.0% during the 4th quarter. Handelsbanken Fonder AB now owns 476,414 shares of the basic materials company’s stock worth $17,732,000 after purchasing an additional 54,667 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 over the last ninety days. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on NEM. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Royal Bank of Canada upped their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Newmont Price Performance

Newmont stock opened at $45.25 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $51.52 billion, a PE ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a 50-day moving average price of $41.56 and a two-hundred day moving average price of $46.46.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Newmont’s dividend payout ratio (DPR) is 34.13%.

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.