Federated Hermes Inc. Decreases Holdings in Newmont Co. (NYSE:NEM)

Federated Hermes Inc. cut its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 63.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 402,670 shares of the basic materials company's stock after selling 692,692 shares during the quarter. Federated Hermes Inc.'s holdings in Newmont were worth $14,987,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NEM. Sanctuary Advisors LLC increased its holdings in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after buying an additional 18,722 shares during the period. Nordea Investment Management AB lifted its position in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after purchasing an additional 865,213 shares during the period. Brookstone Capital Management bought a new position in shares of Newmont in the fourth quarter worth approximately $245,000. Finally, Moody National Bank Trust Division increased its stake in shares of Newmont by 13.6% in the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock worth $822,000 after buying an additional 2,645 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now owns 79,596 shares of the company's stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was 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 owns 136,967 shares of the company's stock, valued at $5,874,514.63. This represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Down 0.2 %

Shares of NEM stock traded down $0.13 during trading hours on Monday, hitting $54.84. 4,977,579 shares of the company's stock traded hands, compared to its average volume of 11,382,986. 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 stock's fifty day simple moving average is $46.17 and its two-hundred day simple moving average is $44.97. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The stock has a market cap of $61.82 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 0.41 and a beta of 0.54.

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

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Raymond James raised their price target on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and boosted their price target for the company from $50.00 to $60.00 in a report on Friday. Royal Bank of Canada lifted their price objective on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, Scotiabank cut their price target 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.55.

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.