Newmont Co. (NYSE:NEM) Stock Position Lowered by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its stake in Newmont Co. (NYSE:NEM - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,063,700 shares of the basic materials company's stock after selling 17,900 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of Newmont worth $39,591,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC raised its holdings in shares of Newmont by 3.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after buying an additional 219 shares during the last quarter. Confluence Investment Management LLC lifted its position in Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock worth $439,000 after acquiring an additional 281 shares during the period. Howard Capital Management Inc. grew its stake in shares of Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after purchasing an additional 292 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Newmont by 21.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock valued at $63,000 after purchasing an additional 300 shares during the period. Finally, Fiduciary Financial Group LLC lifted its holdings in shares of Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock worth $338,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NEM traded up $0.11 during trading hours on Monday, hitting $54.05. The company's stock had a trading volume of 9,361,553 shares, compared to its average volume of 9,858,353. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The company has a 50-day simple moving average of $47.89 and a 200 day simple moving average of $45.07. The firm has a market capitalization of $60.93 billion, a PE ratio of 18.45, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NEM shares. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. TD Securities cut their price target 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. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday. Finally, Royal Bank of Canada boosted their price target on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.40.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares of the company's stock, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

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.