Harvest Fund Management Co. Ltd Cuts Stock Holdings in Newmont Co. (NYSE:NEM)

Harvest Fund Management Co. Ltd reduced its position in Newmont Co. (NYSE:NEM) by 89.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,829 shares of the basic materials company’s stock after selling 14,734 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Newmont were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC boosted its stake in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares in the last quarter. HHM Wealth Advisors LLC raised its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Promus Capital LLC purchased a new position in Newmont during the fourth quarter worth approximately $38,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Scotiabank dropped their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Raymond James dropped their target price 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 started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Price Performance

Shares of NEM stock opened at $47.23 on Monday. The firm’s 50-day moving average is $44.10 and its two-hundred day moving average is $45.54. Newmont Co. has a 12 month low of $33.86 and a 12 month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market capitalization of $53.24 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.12%. Newmont’s dividend payout ratio (DPR) is currently 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.