Neuberger Berman Group LLC Cuts Position in Newmont Co. (NYSE:NEM)

Neuberger Berman Group LLC lessened its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 63.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,157,334 shares of the basic materials company's stock after selling 3,709,999 shares during the period. Neuberger Berman Group LLC owned 0.19% of Newmont worth $80,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEM. Van ECK Associates Corp lifted its stake in shares of Newmont by 1.6% during the 4th 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank purchased a new stake in shares of Newmont during the fourth quarter worth about $626,074,000. Amundi grew its position in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

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Newmont Trading Down 0.1 %

Shares of NEM stock traded down $0.05 during trading hours on Monday, reaching $54.92. 6,834,932 shares of the stock were exchanged, compared to its average volume of 9,796,659. The firm has a market capitalization of $61.91 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The company's 50-day moving average price is $46.17 and its 200-day moving average price is $44.97. 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 (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, equities analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Newmont's payout ratio is 34.13%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Raymond James raised their price objective on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Scotiabank dropped their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.55.

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.