Lmcg Investments LLC Sells 22,963 Shares of Newmont Co. (NYSE:NEM)

Lmcg Investments LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,549 shares of the basic materials company’s stock after selling 22,963 shares during the period. Lmcg Investments LLC’s holdings in Newmont were worth $6,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Avior Wealth Management LLC raised its stake in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Newmont during the 3rd quarter worth $27,000. Prospera Private Wealth LLC acquired a new position in Newmont in the 3rd quarter valued at $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter worth $32,000. Finally, McIlrath & Eck LLC lifted its position in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $41.72 on Tuesday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The stock’s 50 day moving average price is $40.29 and its two-hundred day moving average price is $46.89. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its quarterly earnings results 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 business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’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 business earned $0.36 EPS. Analysts predict that Newmont Co. will post 3.1 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NEM shares. Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Raymond James dropped their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

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.