Bank of Hawaii Reduces Holdings in Newmont Co. (NYSE:NEM)

Bank of Hawaii reduced its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,250 shares of the basic materials company's stock after selling 6,137 shares during the quarter. Bank of Hawaii's holdings in Newmont were worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Newmont in the 4th quarter worth $626,074,000. Renaissance Technologies LLC bought a new position in Newmont in the fourth quarter worth about $76,281,000. Invesco Ltd. lifted its position in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares during the last quarter. Allianz SE bought a new stake in shares of Newmont in the 4th quarter valued at about $65,385,000. Finally, Nordea Investment Management AB grew its position in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock worth $92,832,000 after buying an additional 1,578,545 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction 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 sale, the director now owns 49,993 shares of the company's stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company's stock, valued at $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,154 shares of company stock valued at $825,678. Corporate insiders own 0.05% of the company's stock.

Remove Ads

Newmont Stock Performance

NEM traded down $0.05 during midday trading on Monday, hitting $54.92. 6,834,932 shares of the company were exchanged, compared to its average volume of 9,796,659. The firm has a market capitalization of $61.91 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company's 50 day simple moving average is $46.17 and its 200 day simple moving average is $44.97. 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 1-year low of $36.60 and a 1-year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont's dividend payout ratio is presently 34.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James increased their target price on shares of Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and upped their target price for the company from $50.00 to $60.00 in a research report on Friday. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Finally, Scotiabank cut their price objective on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 21st. One 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.55.

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.