First Horizon Advisors Inc. Sells 5,707 Shares of Newmont Co. (NYSE:NEM)

First Horizon Advisors Inc. cut its stake in Newmont Co. (NYSE:NEM) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,589 shares of the basic materials company’s stock after selling 5,707 shares during the quarter. First Horizon Advisors Inc.’s holdings in Newmont were worth $878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Zurich Insurance Group Ltd FI bought a new stake in shares of Newmont in the 3rd quarter valued at about $98,011,000. Nordea Investment Management AB increased its stake in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. FMR LLC increased its stake in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after acquiring an additional 964,815 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Newmont by 57.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on NEM. Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. 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 for the company. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Trading Down 2.8 %

NYSE NEM opened at $44.05 on Tuesday. The company has a market cap of $50.14 billion, a PE ratio of 15.03, a PEG ratio of 0.41 and a beta of 0.52. 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 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 of $41.64 and a 200-day moving average of $46.42.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. On average, equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, March 4th. Newmont’s payout ratio is presently 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.