Newmont Co. (NYSE:NEM) Holdings Trimmed by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its position in shares of Newmont Co. (NYSE:NEM) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,889 shares of the basic materials company’s stock after selling 4,576 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Newmont were worth $4,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NEM. HHM Wealth Advisors LLC lifted its stake in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Promus Capital LLC bought a new position in shares of Newmont in the fourth quarter valued at $38,000. McIlrath & Eck LLC lifted its position in shares of Newmont by 80.6% during the 3rd 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 during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Newmont during the 4th quarter worth $43,000. Finally, Assetmark Inc. grew its holdings in shares of Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 820 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on NEM. Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 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 $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $48.38 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $54.53 billion, a PE ratio of 16.51, a PEG ratio of 0.41 and a beta of 0.54. The firm’s 50 day moving average price is $44.65 and its 200 day moving average price is $45.52. Newmont Co. has a twelve month low of $35.37 and a twelve month high of $58.72.

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

Newmont Dividend Announcement

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