Level Four Advisory Services LLC Lowers Position in Newmont Co. (NYSE:NEM)

Level Four Advisory Services LLC decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 9,976 shares of the basic materials company’s stock after selling 1,019 shares during the period. Level Four Advisory Services LLC’s holdings in Newmont were worth $371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Newmont during the fourth quarter valued at approximately $626,074,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Newmont during the 3rd quarter valued at $98,011,000. Nordea Investment Management AB lifted its holdings in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. Amundi grew its position in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after acquiring an additional 1,507,708 shares in the last quarter. Finally, Ruffer LLP raised its position in Newmont by 19.7% during the fourth quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after purchasing an additional 1,164,870 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 in the last 90 days. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research reports. Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada upped their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. National Bank Financial raised Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Price Performance

Shares of NYSE NEM opened at $48.28 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1 year low of $36.10 and a 1 year high of $58.72. The company’s 50-day moving average is $44.91 and its 200 day moving average is $45.39. The stock has a market capitalization of $54.43 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Newmont’s dividend payout ratio is currently 34.13%.

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.