Horizon Kinetics Asset Management LLC Sells 4,047 Shares of Newmont Co. (NYSE:NEM)

Horizon Kinetics Asset Management LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 16.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,042 shares of the basic materials company’s stock after selling 4,047 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Newmont were worth $746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Investments Inc grew its holdings in Newmont by 33.8% in the third quarter. Atria Investments Inc now owns 8,352 shares of the basic materials company’s stock worth $446,000 after purchasing an additional 2,108 shares during the period. OneDigital Investment Advisors LLC grew its holdings in shares of Newmont by 58.8% during the third quarter. OneDigital Investment Advisors LLC now owns 10,492 shares of the basic materials company’s stock valued at $561,000 after buying an additional 3,887 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Newmont by 35.7% during the third quarter. Natixis Advisors LLC now owns 163,940 shares of the basic materials company’s stock valued at $8,763,000 after buying an additional 43,153 shares during the last quarter. Claro Advisors LLC purchased a new stake in shares of Newmont during the third quarter valued at approximately $211,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Newmont by 10.5% during the third quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company’s stock valued at $4,775,000 after buying an additional 8,449 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was 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 owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Up 2.9 %

NEM opened at $47.57 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a fifty-two week low of $33.29 and a fifty-two week high of $58.72. The firm’s fifty day moving average is $43.39 and its 200 day moving average is $45.68. The stock has a market cap of $53.60 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth 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, 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 company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. On average, sell-side analysts forecast 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Analysts Set New Price Targets

A number of research firms have recently commented on NEM. Royal Bank of Canada increased their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.