Newmont Co. (NYSE:NEM) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its position in Newmont Co. (NYSE:NEM) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,768 shares of the basic materials company’s stock after selling 990 shares during the quarter. Meyer Handelman Co.’s holdings in Newmont were worth $8,664,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. boosted its stake in Newmont by 3.7% during the 2nd quarter. American Century Companies Inc. now owns 854,837 shares of the basic materials company’s stock worth $35,792,000 after purchasing an additional 30,685 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Newmont by 129.6% in the second quarter. Envestnet Asset Management Inc. now owns 544,178 shares of the basic materials company’s stock valued at $22,785,000 after buying an additional 307,212 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Newmont by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after buying an additional 545,903 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Newmont by 12.9% during the second quarter. Citizens Financial Group Inc. RI now owns 12,829 shares of the basic materials company’s stock worth $537,000 after buying an additional 1,467 shares during the period. Finally, Terril Brothers Inc. grew its holdings in shares of Newmont by 7.2% during the second quarter. Terril Brothers Inc. now owns 778,847 shares of the basic materials company’s stock worth $32,610,000 after buying an additional 52,371 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on NEM. Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Insider Buying and Selling at Newmont

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

NEM stock opened at $40.19 on Wednesday. The firm has a 50 day moving average of $40.49 and a 200-day moving average of $46.90. The company has a market cap of $45.75 billion, a price-to-earnings ratio of -26.44, a PEG ratio of 0.35 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, equities analysts expect that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. Newmont’s payout ratio is -65.79%.

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.