AIA Group Ltd Sells 931 Shares of Newmont Co. (NYSE:NEM)

AIA Group Ltd cut its position in shares of Newmont Co. (NYSE:NEM) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,993 shares of the basic materials company’s stock after selling 931 shares during the period. AIA Group Ltd’s holdings in Newmont were worth $744,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its position in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC purchased a new position in shares of Newmont in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC increased its position in shares of Newmont by 80.6% during the 3rd 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 last quarter. Kestra Investment Management LLC purchased a new stake in Newmont during the 4th quarter valued at $43,000. Finally, Assetmark Inc. boosted its stake in Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after buying an additional 820 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the company’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 $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 represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 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 value of $120,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $48.28 on Tuesday. The stock’s 50-day moving average is $44.91 and its 200 day moving average is $45.39. Newmont Co. has a 1-year low of $36.10 and a 1-year high of $58.72. 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 company has a market cap of $54.43 billion, a P/E ratio of 16.48, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings results 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 business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s payout ratio is presently 34.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NEM. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. Finally, Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

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.