Gulf International Bank UK Ltd Decreases Stake in Newmont Co. (NYSE:NEM)

Gulf International Bank UK Ltd lessened its stake in shares of Newmont Co. (NYSE:NEM) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 90,167 shares of the basic materials company’s stock after selling 981 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Newmont were worth $3,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. raised its holdings in Newmont by 3.4% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 459,380 shares of the basic materials company’s stock valued at $17,098,000 after buying an additional 15,200 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new position in shares of Newmont in the fourth quarter valued at about $579,000. Apriem Advisors purchased a new position in shares of Newmont in the fourth quarter valued at about $411,000. Whipplewood Advisors LLC bought a new position in shares of Newmont during the fourth quarter valued at about $79,000. Finally, National Pension Service boosted its holdings in shares of Newmont by 11.8% during the fourth quarter. National Pension Service now owns 2,831,544 shares of the basic materials company’s stock worth $105,390,000 after purchasing an additional 298,467 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEM. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday. Finally, TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the sale, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Newmont Stock Down 3.5 %

NEM stock opened at $42.06 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $41.92 and a 200 day moving average of $46.34. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a market cap of $47.39 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last issued its quarterly 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 return on equity of 13.52% and a net margin of 17.92%. On average, research analysts forecast 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. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s dividend payout ratio is presently 34.13%.

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.