Fmr LLC Sells 2,617,740 Shares of Newmont Co. (NYSE:NEM)

FMR LLC cut its holdings in Newmont Co. (NYSE:NEM - Free Report) by 37.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,434,699 shares of the basic materials company's stock after selling 2,617,740 shares during the quarter. FMR LLC owned 0.39% of Newmont worth $165,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sanctuary Advisors LLC increased its position in shares of Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock valued at $1,854,000 after acquiring an additional 18,722 shares during the last quarter. Nordea Investment Management AB increased 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 valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Newmont by 57.1% during the 4th 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 last quarter. Brookstone Capital Management bought a new stake in shares of Newmont during the 4th quarter worth $245,000. Finally, Moody National Bank Trust Division grew its position in Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after buying an additional 2,645 shares during the period. 68.85% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, COO Natascha Viljoen sold 9,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the sale, the chief operating officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,154 shares of company stock valued at $825,678. Corporate insiders own 0.05% of the company's stock.

Newmont Trading Down 0.4 %

Shares of NEM stock traded down $0.21 during mid-day trading on Monday, reaching $54.76. The stock had a trading volume of 14,219,827 shares, compared to its average volume of 9,825,263. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average price is $46.17 and its two-hundred day moving average price is $44.97. The firm has a market capitalization of $61.73 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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 during the quarter, compared to analysts' expectations of $5.32 billion. Equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Newmont's dividend payout ratio is 34.13%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Raymond James boosted their target price on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target for the company. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Royal Bank of Canada upped their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $54.55.

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.