Adams Natural Resources Fund Inc. Cuts Stock Position in Newmont Co. (NYSE:NEM)

Adams Natural Resources Fund Inc. lowered its stake in Newmont Co. (NYSE:NEM - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,100 shares of the basic materials company's stock after selling 17,000 shares during the period. Newmont accounts for approximately 0.9% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 24th biggest holding. Adams Natural Resources Fund Inc.'s holdings in Newmont were worth $5,698,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NEM. Avior Wealth Management LLC raised its position in shares of Newmont by 191.8% in 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 in the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont in the third quarter worth $28,000. HHM Wealth Advisors LLC boosted its holdings in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after buying an additional 350 shares in the last quarter. Promus Capital LLC purchased a new stake in Newmont in the fourth quarter worth about $38,000. Finally, McIlrath & Eck LLC increased its stake 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 valued at $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. CLSA initiated coverage on Newmont in a research report on Friday, November 29th. They set an "underperform" rating for the company. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Finally, StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.16.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company's stock, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business'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 owns 52,070 shares of the company's stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 in the last 90 days. Company insiders own 0.06% of the company's stock.

Newmont Stock Performance

NEM stock traded down $0.19 during trading on Wednesday, reaching $47.36. The stock had a trading volume of 6,828,664 shares, compared to its average volume of 9,360,627. The firm has a market cap of $53.38 billion, a PE ratio of 16.16, a PEG ratio of 0.41 and a beta of 0.54. 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's 50 day moving average is $44.40 and its two-hundred day moving average is $45.48. Newmont Co. has a 52 week low of $34.00 and a 52 week high of $58.72.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, March 4th. Newmont's dividend payout ratio is presently 34.13%.

Newmont 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.