Gabelli Funds LLC Sells 56,700 Shares of Newmont Co. (NYSE:NEM)

Gabelli Funds LLC trimmed its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,804,587 shares of the basic materials company's stock after selling 56,700 shares during the quarter. Newmont comprises about 0.8% of Gabelli Funds LLC's investment portfolio, making the stock its 21st largest holding. Gabelli Funds LLC owned approximately 0.25% of Newmont worth $104,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. HHM Wealth Advisors LLC boosted its holdings in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Redwood Park Advisors LLC bought a new stake in shares of Newmont in the 4th quarter valued at $37,000. Promus Capital LLC acquired a new stake in shares of Newmont during the fourth quarter worth $38,000. McIlrath & Eck LLC raised its stake in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after buying an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Newmont in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM traded down $0.87 during midday trading on Friday, reaching $55.08. The stock had a trading volume of 14,364,376 shares, compared to its average volume of 9,880,865. The company has a market capitalization of $62.08 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The company's 50-day moving average is $47.14 and its 200 day moving average is $45.14.

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

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NEM. The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada boosted their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.02.

Insider Buying and Selling at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,154 shares of company stock worth $825,678. 0.05% 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.