Bahl & Gaynor Inc. Trims Stock Position in Newmont Co. (NYSE:NEM)

Bahl & Gaynor Inc. trimmed its holdings in Newmont Co. (NYSE:NEM) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,275 shares of the basic materials company’s stock after selling 1,200 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Newmont were worth $643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its holdings in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new position in Newmont during the third quarter valued at approximately $28,000. McIlrath & Eck LLC lifted its holdings in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. HHM Wealth Advisors LLC boosted its position in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Newmont during the 3rd quarter worth approximately $52,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. CLSA assumed coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Up 3.3 %

Shares of NYSE NEM opened at $43.89 on Thursday. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72. The stock has a market cap of $49.46 billion, a P/E ratio of 14.98, 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. The business’s fifty day simple moving average is $42.29 and its 200-day simple moving average is $46.14.

Newmont (NYSE:NEM) last posted 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 analyst estimates of $5.32 billion. As a group, equities analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. Newmont’s dividend payout ratio is currently 34.13%.

Insiders Place Their Bets

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 sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 in the last 90 days. Corporate 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.