Newmont Co. (NYSE:NEM) Shares Bought by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT raised its stake in Newmont Co. (NYSE:NEM) by 59.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,940 shares of the basic materials company’s stock after acquiring an additional 99,910 shares during the quarter. Sound Shore Management Inc. CT’s holdings in Newmont were worth $9,936,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC raised its holdings in shares of Newmont by 191.8% in 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. HHM Wealth Advisors LLC grew its position in shares of Newmont by 66.0% in the fourth 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 during the period. Promus Capital LLC purchased a new stake in shares of Newmont in the fourth quarter valued at $38,000. McIlrath & Eck LLC grew its position in shares of 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 purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at $43,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NEM shares. TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Royal Bank of Canada boosted their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling at Newmont

In other 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 transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. 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 the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Down 1.1 %

NYSE:NEM opened at $47.23 on Monday. 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 $33.86 and a one year high of $58.72. The business’s 50-day simple moving average is $44.10 and its 200 day simple moving average is $45.54. The stock has a market cap of $53.24 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last announced 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share 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. This represents a $1.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Newmont Company 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.