Sound Shore Management Inc. CT Boosts Stake in Newmont Co. (NYSE:NEM)

Sound Shore Management Inc. CT increased its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 59.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 266,940 shares of the basic materials company's stock after purchasing an additional 99,910 shares during the period. Sound Shore Management Inc. CT's holdings in Newmont were worth $9,936,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after acquiring an additional 326 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 350 shares during the period. Promus Capital LLC acquired a new stake in Newmont during the fourth quarter worth approximately $38,000. McIlrath & Eck LLC boosted its holdings in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after acquiring an additional 361 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Newmont in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NEM shares. CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an "underperform" rating for the company. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Scotiabank lowered their price objective 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, The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont has an average rating of "Moderate Buy" and an average target price of $53.16.

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Newmont Stock Up 1.2 %

Shares of NYSE NEM traded up $0.58 during trading on Thursday, hitting $47.97. 4,548,931 shares of the company traded hands, compared to its average volume of 9,343,173. 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 business's fifty day moving average is $44.52 and its 200 day moving average is $45.50. The firm has a market capitalization of $54.07 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $34.18 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities research analysts predict 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 will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business'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 $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company's stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,231 shares of company stock worth $1,388,758. 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.