Newmont Co. (NYSE:NEM) Stock Holdings Lessened by Gemsstock Ltd.

Gemsstock Ltd. cut its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 293,500 shares of the basic materials company's stock after selling 170,800 shares during the period. Newmont accounts for about 2.2% of Gemsstock Ltd.'s holdings, making the stock its 13th biggest position. Gemsstock Ltd.'s holdings in Newmont were worth $10,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEM. HighPoint Advisor Group LLC increased its position in Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after acquiring an additional 219 shares during the period. Confluence Investment Management LLC grew its position in Newmont by 2.4% in the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock valued at $439,000 after buying an additional 281 shares during the last quarter. Howard Capital Management Inc. increased its stake in shares of Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after acquiring an additional 292 shares during the period. Intact Investment Management Inc. boosted its holdings in Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock valued at $63,000 after purchasing an additional 300 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its stake in shares of Newmont by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock valued at $338,000 after buying an additional 303 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company's stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is owned by company insiders.

Newmont Stock Up 5.6 %

Shares of NYSE:NEM traded up $2.74 during trading on Thursday, hitting $51.49. The company's stock had a trading volume of 14,141,451 shares, compared to its average volume of 9,762,291. The company has a market capitalization of $58.05 billion, a PE ratio of 17.49, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock's 50-day moving average price is $45.78 and its two-hundred day moving average price is $45.08.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, sell-side 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 was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.94%. Newmont's dividend payout ratio is presently 34.13%.

Wall Street Analyst Weigh In

A number of research firms have commented on NEM. Raymond James raised their target price on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.09.

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.