LPL Financial LLC Sells 54,850 Shares of Newmont Co. (NYSE:NEM)

LPL Financial LLC decreased its stake in Newmont Co. (NYSE:NEM - Free Report) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 522,551 shares of the basic materials company's stock after selling 54,850 shares during the period. LPL Financial LLC's holdings in Newmont were worth $19,449,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its holdings 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 buying an additional 350 shares during the last quarter. Promus Capital LLC purchased a new position in shares of Newmont during the fourth quarter valued at approximately $38,000. McIlrath & Eck LLC raised its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 361 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at $43,000. Finally, Assetmark Inc. boosted its position in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after acquiring an additional 820 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the company's 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 completion of the transaction, the chief operating officer now owns 145,967 shares of the company's stock, valued at $5,838,680. This represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now directly 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 three months, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by insiders.

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Newmont Price Performance

NYSE NEM traded down $3.90 during trading on Friday, reaching $44.43. 13,179,711 shares of the company traded hands, compared to its average volume of 9,696,351. Newmont Co. has a 1-year low of $36.60 and a 1-year 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 $45.30 and its two-hundred day moving average price is $45.39. The company has a market cap of $50.09 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 0.41 and a beta of 0.54.

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, topping analysts' consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, analysts anticipate 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 dividend on an annualized basis and a yield of 2.25%. Newmont's payout ratio is 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research analyst reports. National Bank Financial upgraded Newmont to a "hold" rating in a research note on Friday, March 21st. Raymond James increased their target price on Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price target for the company. Scotiabank decreased their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. Finally, TD Securities reduced their price target 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 analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned 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 an average target price of $53.44.

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.