Whittier Trust Co. Cuts Stake in Newmont Co. (NYSE:NEM)

Whittier Trust Co. lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,312 shares of the basic materials company’s stock after selling 2,728 shares during the period. Whittier Trust Co.’s holdings in Newmont were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Avior Wealth Management LLC grew its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont in the 3rd quarter worth approximately $28,000. HHM Wealth Advisors LLC increased its stake in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC acquired a new position in Newmont during the 4th quarter valued at approximately $38,000. Finally, McIlrath & Eck LLC lifted its stake in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. CLSA assumed coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. TD Securities cut 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. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the sale, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 over the last quarter. 0.06% of the stock is currently owned by insiders.

Newmont Trading Down 1.1 %

Shares of NEM stock opened at $47.23 on Friday. Newmont Co. has a 1-year low of $33.86 and a 1-year high of $58.72. The company has a market cap of $53.22 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.41 and a beta of 0.54. 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 has a 50 day simple moving average of $44.10 and a 200-day simple moving average of $45.58.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid 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 yield of 2.12%. Newmont’s dividend payout ratio (DPR) is currently 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.