Newmont Co. (NYSE:NEM) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. reduced its stake in Newmont Co. (NYSE:NEM) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,023 shares of the basic materials company’s stock after selling 3,950 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Newmont were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Avior Wealth Management LLC raised 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 purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the third quarter worth approximately $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the third quarter worth approximately $32,000. McIlrath & Eck LLC raised 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 acquiring an additional 361 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its stake in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,154 shares of company stock valued at $1,166,843. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. 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. Finally, Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Stock Down 5.9 %

Shares of NYSE:NEM opened at $45.25 on Friday. Newmont Co. has a 1-year low of $29.42 and a 1-year 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 stock has a market cap of $51.52 billion, a P/E ratio of -29.77, a P/E/G ratio of 0.40 and a beta of 0.52. The firm has a fifty day moving average price of $41.56 and a 200 day moving average price of $46.46.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Sell-side analysts predict that Newmont Co. will post 3.11 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

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.