Glass Wealth Management Co LLC Sells 3,515 Shares of Newmont Co. (NYSE:NEM)

Glass Wealth Management Co LLC reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 89,722 shares of the basic materials company’s stock after selling 3,515 shares during the quarter. Newmont makes up approximately 1.8% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 18th largest position. Glass Wealth Management Co LLC’s holdings in Newmont were worth $3,339,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Carmel Capital Partners LLC grew its position in Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after buying an additional 226 shares in the last quarter. Studio Investment Management LLC grew its position in Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock worth $61,000 after buying an additional 261 shares in the last quarter. Confluence Investment Management LLC grew its position in Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after buying an additional 281 shares in the last quarter. Howard Capital Management Inc. grew 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 buying an additional 292 shares in the last quarter. Finally, Fiduciary Financial Group LLC lifted its stake in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 303 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Up 0.3 %

Shares of NYSE:NEM opened at $42.51 on Wednesday. Newmont Co. has a 1 year low of $33.22 and a 1 year high of $58.72. The company has a market cap of $47.90 billion, a PE ratio of 14.51, a P/E/G ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock’s 50-day moving average is $42.18 and its 200 day moving average is $46.15.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.32 billion. Sell-side analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued 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 yield of 2.35%. Newmont’s dividend payout ratio is presently 34.13%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Scotiabank dropped their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at approximately $5,874,514.63. This represents a 6.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 in the last 90 days. Company insiders own 0.06% of the company’s stock.

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.