Prudential PLC Cuts Stock Holdings in Newmont Co. (NYSE:NEM)

Prudential PLC lessened its position in Newmont Co. (NYSE:NEM) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,462 shares of the basic materials company’s stock after selling 5,951 shares during the quarter. Prudential PLC’s holdings in Newmont were worth $8,689,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Trexquant Investment LP boosted its stake in Newmont by 97.0% during the 4th quarter. Trexquant Investment LP now owns 442,340 shares of the basic materials company’s stock worth $16,464,000 after purchasing an additional 217,841 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $1,313,000. Geode Capital Management LLC boosted its stake in Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after buying an additional 1,213,397 shares during the last quarter. Nemes Rush Group LLC boosted its stake in Newmont by 206.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,013 shares of the basic materials company’s stock worth $75,000 after buying an additional 1,357 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in shares of Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 219 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 8.4 %

NYSE NEM opened at $44.25 on Friday. Newmont Co. has a one year low of $36.60 and a one year high of $58.72. The firm has a 50 day simple moving average of $45.34 and a 200-day simple moving average of $45.33. The firm has a market cap of $49.88 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.41 and a beta of 0.54. 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 (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.26%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NEM. Royal Bank of Canada boosted their price target on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.09.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’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 directly owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 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 value of $120,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 in the last quarter. Corporate insiders own 0.05% of the company’s stock.

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.