Newmont Co. (NYSE:NEM) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in Newmont Co. (NYSE:NEM) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,578 shares of the basic materials company’s stock after selling 7,504 shares during the period. HighTower Advisors LLC owned about 0.06% of Newmont worth $24,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Atria Investments Inc lifted its stake in Newmont by 33.8% in the third quarter. Atria Investments Inc now owns 8,352 shares of the basic materials company’s stock worth $446,000 after acquiring an additional 2,108 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of Newmont by 43.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 8,660 shares of the basic materials company’s stock worth $463,000 after purchasing an additional 2,640 shares during the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Newmont by 6.7% during the third quarter. Main Street Financial Solutions LLC now owns 7,050 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 442 shares in the last quarter. Huntington National Bank increased its holdings in Newmont by 82.4% in the third quarter. Huntington National Bank now owns 10,176 shares of the basic materials company’s stock valued at $544,000 after buying an additional 4,598 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in Newmont by 58.8% in the third quarter. OneDigital Investment Advisors LLC now owns 10,492 shares of the basic materials company’s stock valued at $561,000 after buying an additional 3,887 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NEM. Scotiabank dropped their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Up 1.4 %

Shares of Newmont stock opened at $46.27 on Friday. The company has a market cap of $52.14 billion, a P/E ratio of 15.79, a PEG ratio of 0.41 and a beta of 0.54. The firm has a fifty day moving average of $43.20 and a two-hundred day moving average of $45.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a one year low of $33.29 and a one year high of $58.72.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.16%. Newmont’s payout ratio is currently 34.13%.

Insider Transactions at Newmont

In related news, COO Natascha Viljoen sold 9,000 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 $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

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.