Corient Private Wealth LLC Trims Stock Holdings in Newmont Co. (NYSE:NEM)

Corient Private Wealth LLC trimmed its position in Newmont Co. (NYSE:NEM - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,999 shares of the basic materials company's stock after selling 25,947 shares during the quarter. Corient Private Wealth LLC's holdings in Newmont were worth $2,419,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Confluence Investment Management LLC raised its stake in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock worth $439,000 after buying an additional 281 shares in the last quarter. Howard Capital Management Inc. boosted its position in Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after acquiring an additional 292 shares in the last quarter. Intact Investment Management Inc. grew its holdings in shares of Newmont by 21.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after acquiring an additional 300 shares during the period. Fiduciary Financial Group LLC raised its position in shares of Newmont by 3.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock worth $338,000 after acquiring an additional 303 shares in the last quarter. Finally, Conning Inc. lifted its stake in shares of Newmont by 6.0% in the 4th quarter. Conning Inc. now owns 5,460 shares of the basic materials company's stock valued at $203,000 after purchasing an additional 311 shares during the period. 68.85% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm's 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 $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company's stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 over the last 90 days. Company insiders own 0.06% of the company's stock.

Newmont Stock Performance

NEM traded up $0.99 during midday trading on Thursday, hitting $48.38. 11,012,482 shares of the company traded hands, compared to its average volume of 9,367,711. The company's 50-day moving average is $44.52 and its 200 day moving average is $45.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $54.53 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $34.18 and a 52 week high of $58.72.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Tuesday, March 4th. Newmont's payout ratio is currently 34.13%.

Wall Street Analyst Weigh In

NEM has been the subject of several recent research reports. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an "underperform" rating for the company. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 target price for the company. Finally, Scotiabank dropped their price target 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $53.16.

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.