W.G. Shaheen & Associates DBA Whitney & Co Decreases Stock Position in Newmont Co. (NYSE:NEM)

W.G. Shaheen & Associates DBA Whitney & Co decreased its stake in shares of Newmont Co. (NYSE:NEM) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,353 shares of the basic materials company’s stock after selling 18,416 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Newmont were worth $6,899,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares in the last quarter. Geode Capital Management LLC increased its stake in Newmont by 1.4% in the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after purchasing an additional 326,243 shares during the period. FMR LLC boosted its stake in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the period. Ninety One UK Ltd grew its holdings in shares of Newmont by 27.5% during the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after buying an additional 744,718 shares during the last quarter. Finally, Swiss National Bank increased its position in Newmont by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after acquiring an additional 9,500 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $45.25 on Monday. 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 Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a fifty day moving average of $41.56 and a two-hundred day moving average of $46.45. The company has a market capitalization of $51.52 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.37.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by insiders.

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.