Prudential Financial Inc. Sells 100,984 Shares of Newmont Co. (NYSE:NEM)

Prudential Financial Inc. cut its holdings in Newmont Co. (NYSE:NEM - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 621,859 shares of the basic materials company's stock after selling 100,984 shares during the period. Prudential Financial Inc. owned about 0.05% of Newmont worth $23,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. HHM Wealth Advisors LLC grew its stake 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 purchasing an additional 350 shares during the period. Promus Capital LLC purchased a new stake in shares of Newmont during the 4th quarter worth approximately $38,000. McIlrath & Eck LLC increased its stake in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Newmont in the fourth quarter valued at approximately $43,000. Finally, Assetmark Inc. lifted its position in shares of Newmont by 185.9% during the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after buying an additional 820 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.16.

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Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company's stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company'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 $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company's stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 over the last three months. 0.05% of the stock is owned by company insiders.

Newmont Trading Up 0.2 %

NYSE NEM traded up $0.07 during trading on Monday, hitting $48.15. 3,328,805 shares of the company's stock traded hands, compared to its average volume of 9,675,637. The stock has a fifty day moving average of $44.78 and a two-hundred day moving average of $45.42. Newmont Co. has a 12-month low of $36.10 and a 12-month high of $58.72. The firm has a market cap of $54.28 billion, a P/E ratio of 16.47, 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 (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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 company had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. As a group, sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio is 34.13%.

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.