Harvest Fund Management Co. Ltd Sells 14,734 Shares of Newmont Co. (NYSE:NEM)

Harvest Fund Management Co. Ltd lowered its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 89.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,829 shares of the basic materials company's stock after selling 14,734 shares during the period. Harvest Fund Management Co. Ltd's holdings in Newmont were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEM. Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. McIlrath & Eck LLC grew its position in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC purchased a new position in Newmont in the fourth quarter worth about $38,000. Finally, Kestra Investment Management LLC bought a new position in shares of Newmont in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NEM stock traded up $0.99 during trading hours on Thursday, reaching $48.38. 11,012,482 shares of the company traded hands, compared to its average volume of 9,367,711. The firm has a 50-day moving average price of $44.52 and a 200 day moving average price of $45.50. The company has a market cap of $54.53 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $34.18 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

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Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont's payout ratio is 34.13%.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the business'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 $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company's stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEM has been the subject of several analyst reports. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They issued an "underperform" rating for the company. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. Finally, TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.16.

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.