Newmont Co. (NYSE:NEM) Shares Sold by Cadinha & Co. LLC

Cadinha & Co. LLC decreased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 98.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,850 shares of the basic materials company's stock after selling 328,339 shares during the period. Cadinha & Co. LLC's holdings in Newmont were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Zurich Insurance Group Ltd FI purchased a new position in shares of Newmont during the 3rd quarter worth $98,011,000. Nordea Investment Management AB boosted its position in shares of Newmont by 173.0% during 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 purchasing an additional 1,578,545 shares during the period. FMR LLC raised its position in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the period. Assenagon Asset Management S.A. increased its stake in Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock worth $80,960,000 after purchasing an additional 1,096,905 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Newmont by 29.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock worth $197,976,000 after acquiring an additional 1,074,623 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NEM. UBS Group cut Newmont from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Royal Bank of Canada cut their price target on Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 24th. Scotiabank lowered shares of Newmont from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a "neutral" rating to an "overweight" rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $53.80.

Newmont Trading Up 0.2 %

Shares of NEM traded up $0.07 during mid-day trading on Friday, hitting $41.72. The company had a trading volume of 7,285,053 shares, compared to its average volume of 8,329,923. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The business's 50-day simple moving average is $40.29 and its 200-day simple moving average is $46.86. The stock has a market cap of $47.50 billion, a PE ratio of -27.45, a P/E/G ratio of 0.31 and a beta of 0.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the business earned $0.36 EPS. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. Sell-side analysts forecast that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Newmont's dividend payout ratio (DPR) is -65.79%.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is currently owned by company 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.