Keene & Associates Inc. Sells 19,226 Shares of Newmont Co. (NYSE:NEM)

Keene & Associates Inc. reduced its stake in Newmont Co. (NYSE:NEM - Free Report) by 22.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,935 shares of the basic materials company's stock after selling 19,226 shares during the period. Newmont comprises 1.9% of Keene & Associates Inc.'s investment portfolio, making the stock its 26th largest position. Keene & Associates Inc.'s holdings in Newmont were worth $2,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Van ECK Associates Corp increased its stake in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after buying an additional 797,445 shares during the period. Geode Capital Management LLC boosted its stake in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company's stock valued at $1,253,457,000 after purchasing an additional 326,243 shares in the last quarter. FMR LLC raised its stake in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock worth $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Newmont by 27.5% in the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company's stock worth $128,649,000 after buying an additional 744,718 shares during the period. Finally, Swiss National Bank raised its position in shares of Newmont by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company's stock worth $182,938,000 after acquiring an additional 9,500 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NYSE:NEM traded down $2.84 during trading hours on Friday, reaching $45.25. The company had a trading volume of 16,838,148 shares, compared to its average volume of 9,306,538. The firm's 50 day moving average price is $41.46 and its 200-day moving average price is $46.47. The firm has a market cap of $51.52 billion, a price-to-earnings ratio of -29.77, a PEG ratio of 0.40 and a beta of 0.52. 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 52 week low of $29.42 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. On average, analysts forecast that Newmont Co. will post 3.11 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.21%. Newmont's dividend payout ratio (DPR) is -65.79%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEM. Bernstein Bank increased their price objective on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 target price for the company. Royal Bank of Canada lifted their price objective on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Finally, CLSA began coverage on Newmont in a report on Friday, November 29th. They issued an "underperform" rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.37.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of Newmont 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 $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company's stock, valued at approximately $5,838,680. This trade represents a 5.81 % 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, EVP Peter Toth sold 3,000 shares of the company'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 $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares of the company's stock, valued at $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,154 shares of company stock worth $1,166,843. Corporate insiders own 0.06% of the company's stock.

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.