Newmont Co. (NYSE:NEM) Shares Sold by LGT Group Foundation

LGT Group Foundation lessened its stake in shares of Newmont Co. (NYSE:NEM) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 152,519 shares of the basic materials company’s stock after selling 7,339 shares during the period. LGT Group Foundation’s holdings in Newmont were worth $5,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NEM. Northeast Investment Management acquired a new position in shares of Newmont during the 3rd quarter worth about $214,000. Intact Investment Management Inc. acquired a new position in shares of Newmont during the 3rd quarter worth about $75,000. National Pension Service raised its position in shares of Newmont by 27.9% during the 3rd quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock worth $135,393,000 after purchasing an additional 552,698 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Newmont by 1.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 538,480 shares of the basic materials company’s stock valued at $28,782,000 after acquiring an additional 8,833 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Newmont by 3.5% in the 3rd quarter. QRG Capital Management Inc. now owns 21,005 shares of the basic materials company’s stock valued at $1,123,000 after acquiring an additional 706 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $42.30 on Tuesday. 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 Co. has a 52 week low of $31.67 and a 52 week high of $58.72. The stock has a market capitalization of $47.67 billion, a PE ratio of 14.44, a P/E/G ratio of 0.41 and a beta of 0.52. The firm has a 50 day moving average of $42.09 and a two-hundred day moving average of $46.21.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.36%. Newmont’s dividend payout ratio is presently 34.13%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEM. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. TD Securities cut their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Finally, Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $53.16.

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.