Stack Financial Management Inc Sells 2,468 Shares of Newmont Co. (NYSE:NEM)

Stack Financial Management Inc reduced its position in Newmont Co. (NYSE:NEM) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,946 shares of the basic materials company’s stock after selling 2,468 shares during the quarter. Stack Financial Management Inc’s holdings in Newmont were worth $11,238,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in Newmont in the 3rd quarter worth about $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont in the 3rd quarter valued at about $32,000. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Finally, McIlrath & Eck LLC grew its holdings in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEM. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Scotiabank reduced their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Trading Down 2.8 %

NYSE:NEM opened at $44.05 on Tuesday. The firm has a market capitalization of $50.14 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $41.64 and a 200 day moving average of $46.42.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate 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 net margin of 17.92% and a return on equity of 13.52%. On average, research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the transaction, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred 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 directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 over the last quarter. 0.06% of the stock is owned by corporate insiders.

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.