Gemsstock Ltd. Sells 170,800 Shares of Newmont Co. (NYSE:NEM)

Gemsstock Ltd. decreased its position in shares of Newmont Co. (NYSE:NEM) by 36.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 293,500 shares of the basic materials company’s stock after selling 170,800 shares during the quarter. Newmont makes up approximately 2.2% of Gemsstock Ltd.’s holdings, making the stock its 13th largest holding. Gemsstock Ltd.’s holdings in Newmont were worth $10,924,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC grew its holdings in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank acquired a new position in shares of Newmont in the 4th quarter valued at $626,074,000. Amundi lifted its stake in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the period. Finally, Ruffer LLP boosted its position in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after purchasing an additional 1,164,870 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Royal Bank of Canada boosted their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Scotiabank dropped their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.09.

Newmont Stock Down 8.4 %

Newmont stock opened at $44.25 on Friday. The company has a fifty day simple moving average of $45.34 and a 200 day simple moving average of $45.28. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market cap of $49.88 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly 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. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated 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 $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 ninety days. Insiders own 0.05% of the company’s stock.

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.