Alliancebernstein L.P. Reduces Stock Position in Newmont Co. (NYSE:NEM)

Alliancebernstein L.P. lessened its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,243,406 shares of the basic materials company's stock after selling 25,527 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Newmont worth $46,280,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hilltop Holdings Inc. purchased a new stake in Newmont in the 3rd quarter valued at $407,000. Royal London Asset Management Ltd. lifted its position in shares of Newmont by 2.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 475,146 shares of the basic materials company's stock worth $25,397,000 after buying an additional 12,705 shares in the last quarter. Quarry LP purchased a new position in shares of Newmont in the 3rd quarter worth approximately $161,000. Quantinno Capital Management LP grew its holdings in shares of Newmont by 9.4% in the third quarter. Quantinno Capital Management LP now owns 126,725 shares of the basic materials company's stock valued at $6,773,000 after acquiring an additional 10,888 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of Newmont during the third quarter valued at approximately $359,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NEM. Royal Bank of Canada boosted their price target on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Scotiabank lowered their price objective on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. Raymond James boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $54.09.

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Newmont Trading Down 8.4 %

Newmont stock traded down $4.08 during trading on Friday, reaching $44.25. 21,146,797 shares of the company were exchanged, compared to its average volume of 9,653,406. The stock's 50 day simple moving average is $45.34 and its two-hundred day simple moving average is $45.33. The company has a market capitalization of $49.88 billion, a P/E ratio of 15.10, a PEG ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 52-week low of $36.60 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. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders 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 annualized dividend and a yield of 2.26%. Newmont's dividend payout ratio is presently 34.13%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction 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 sale, the chief operating officer now owns 145,967 shares of the company's stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 in the last three months. 0.05% of the stock is owned by corporate insiders.

About Newmont

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.