Tocqueville Asset Management L.P. Sells 37,837 Shares of Newmont Co. (NYSE:NEM)

Tocqueville Asset Management L.P. cut its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 871,154 shares of the basic materials company's stock after selling 37,837 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.08% of Newmont worth $32,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC grew its position 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 buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in Newmont during the third quarter worth $28,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% in the third 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 period. HHM Wealth Advisors LLC raised its holdings in shares of Newmont by 66.0% during the fourth 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. Finally, Promus Capital LLC acquired a new position in shares of Newmont during the fourth quarter valued at about $38,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In other news, 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 value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company's stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction 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 sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, November 25th. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target for the company. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.16.

Newmont Stock Performance

Shares of NYSE:NEM traded down $0.53 during midday trading on Friday, reaching $47.23. The company had a trading volume of 27,907,132 shares, compared to its average volume of 9,398,887. Newmont Co. has a 52-week low of $33.77 and a 52-week high of $58.72. The company's 50 day moving average price is $43.94 and its 200 day moving average price is $45.67. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $53.22 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Newmont's dividend payout ratio is presently 34.13%.

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.