International Assets Investment Management LLC Sells 961,215 Shares of Newmont Co. (NYSE:NEM)

International Assets Investment Management LLC trimmed its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 98.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,706 shares of the basic materials company's stock after selling 961,215 shares during the quarter. International Assets Investment Management LLC's holdings in Newmont were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. Geode Capital Management LLC raised its holdings in Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company's stock worth $1,253,457,000 after acquiring an additional 326,243 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Newmont by 1.4% in the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company's stock worth $337,909,000 after purchasing an additional 109,084 shares during the last quarter. FMR LLC lifted its holdings in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock valued at $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company's stock valued at $289,445,000 after buying an additional 545,903 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Newmont by 29.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock worth $197,976,000 after buying an additional 1,074,623 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company's stock.

Newmont Price Performance

Shares of NEM traded down $0.04 during midday trading on Friday, hitting $39.09. 10,010,328 shares of the company traded hands, compared to its average volume of 8,066,489. Newmont Co. has a 52 week low of $29.42 and a 52 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 firm has a 50 day moving average of $40.86 and a 200-day moving average of $46.88. The stock has a market cap of $44.50 billion, a price-to-earnings ratio of -25.72, a PEG ratio of 0.35 and a beta of 0.50.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm earned $0.36 EPS. The business's revenue was up 84.7% compared to the same quarter last year. On average, analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is -65.79%.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a report on Thursday, October 24th. Scotiabank lowered shares of Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $59.00 to $55.00 in a research report on Friday, October 25th. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Cibc World Mkts downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $54.31.

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.