Arrowstreet Capital Limited Partnership Trims Stake in Newmont Co. (NYSE:NEM)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 78.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,953 shares of the basic materials company's stock after selling 1,418,123 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Newmont were worth $14,356,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

NEM has been the topic of a number of analyst reports. TD Securities cut their target price on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Royal Bank of Canada boosted their target price on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday. The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price target on the stock. Finally, Scotiabank decreased their price objective on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.09.

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Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were 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 in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,231 shares of company stock worth $1,388,758. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Down 8.4 %

NYSE:NEM traded down $4.08 during midday trading on Friday, reaching $44.25. 21,146,797 shares of the stock traded hands, compared to its average volume of 9,698,987. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The business has a 50-day moving average of $45.34 and a two-hundred day moving average of $45.33. 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 stock has a market capitalization of $49.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The company 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%. On average, equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio is currently 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.