Oppenheimer & Co. Inc. Sells 93,059 Shares of Newmont Co. (NYSE:NEM)

Oppenheimer & Co. Inc. trimmed its position in shares of Newmont Co. (NYSE:NEM) by 36.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,790 shares of the basic materials company’s stock after selling 93,059 shares during the period. Oppenheimer & Co. Inc.’s holdings in Newmont were worth $5,985,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC boosted its position in 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 buying an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont in the 3rd quarter valued at about $28,000. HHM Wealth Advisors LLC boosted its position in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the period. McIlrath & Eck LLC boosted its position in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in Newmont in the 4th quarter valued at about $43,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on NEM. TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Royal Bank of Canada upped their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Scotiabank lowered their price target on shares of 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, CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling at Newmont

In other news, COO Natascha Viljoen sold 9,000 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 $386,010.00. Following the sale, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 1.7 %

NYSE:NEM opened at $42.83 on Friday. Newmont Co. has a 52 week low of $30.93 and a 52 week high of $58.72. The firm has a 50 day moving average of $42.01 and a 200 day moving average of $46.30. 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 stock has a market capitalization of $48.26 billion, a price-to-earnings ratio of 14.62, a PEG 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.32 billion. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. Newmont’s payout ratio is 34.13%.

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.