FNY Investment Advisers LLC Reduces Stock Holdings in Newmont Co. (NYSE:NEM)

FNY Investment Advisers LLC cut its holdings in Newmont Co. (NYSE:NEM - Free Report) by 96.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,425 shares of the basic materials company's stock after selling 58,461 shares during the quarter. FNY Investment Advisers LLC's holdings in Newmont were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Miracle Mile Advisors LLC acquired a new stake in shares of Newmont during the fourth quarter worth $275,000. Elevated Capital Advisors LLC raised its stake in Newmont by 11.6% in the 4th quarter. Elevated Capital Advisors LLC now owns 19,908 shares of the basic materials company's stock worth $741,000 after acquiring an additional 2,077 shares during the last quarter. Eastern Bank lifted its position in Newmont by 20.2% during the 4th quarter. Eastern Bank now owns 4,550 shares of the basic materials company's stock worth $169,000 after acquiring an additional 765 shares during the period. Moody National Bank Trust Division grew its stake in Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after purchasing an additional 2,645 shares during the last quarter. Finally, Brookstone Capital Management acquired a new position in shares of Newmont in the fourth quarter valued at about $245,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company's stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock valued at $563,080 over the last quarter. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NEM shares. Scotiabank lowered Newmont from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Veritas raised shares of Newmont to a "strong-buy" rating in a report on Monday, September 30th. Royal Bank of Canada reduced their target price on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a report on Thursday, October 24th. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised Newmont from a "neutral" rating to an "overweight" rating in a research report 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $53.80.

Newmont Price Performance

Shares of NEM stock opened at $41.43 on Thursday. The stock has a 50 day simple moving average of $40.49 and a 200-day simple moving average of $46.90. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. 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 posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analysts' expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, equities research analysts anticipate 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. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.41%. Newmont's dividend payout ratio (DPR) is currently -65.79%.

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.