Vanguard Group Inc. Cuts Stock Holdings in Newmont Co. (NYSE:NEM)

Vanguard Group Inc. trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,127,613 shares of the basic materials company’s stock after selling 514,173 shares during the period. Vanguard Group Inc. owned 11.87% of Newmont worth $5,029,450,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NEM. Zurich Insurance Group Ltd FI purchased a new position in Newmont during the third quarter valued at $98,011,000. Nordea Investment Management AB grew its stake in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after acquiring an additional 1,578,545 shares in the last quarter. Amundi grew its stake in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after acquiring an additional 1,507,708 shares in the last quarter. FMR LLC grew its stake in Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Finally, Ruffer LLP grew its stake in Newmont by 19.7% during the fourth quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after acquiring an additional 1,164,870 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 1.1 %

Shares of NEM opened at $47.23 on Monday. Newmont Co. has a 1-year low of $33.86 and a 1-year high of $58.72. The company has a 50-day moving average of $44.10 and a 200 day moving average of $45.54. The firm has a market capitalization of $53.24 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.

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. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. On average, research analysts expect 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. Stockholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NEM. Royal Bank of Canada lifted their price objective 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. Raymond James dropped 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. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group began 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. Finally, TD Securities dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

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.