O Shaughnessy Asset Management LLC Has $2.78 Million Position in Newmont Co. (NYSE:NEM)

O Shaughnessy Asset Management LLC lowered its holdings in Newmont Co. (NYSE:NEM - Free Report) by 24.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,627 shares of the basic materials company's stock after selling 23,604 shares during the period. O Shaughnessy Asset Management LLC's holdings in Newmont were worth $2,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEM. Bcwm LLC purchased a new position in shares of Newmont in the fourth quarter worth approximately $947,000. CIBC Private Wealth Group LLC grew its stake in Newmont by 13.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,792 shares of the basic materials company's stock valued at $266,000 after acquiring an additional 783 shares in the last quarter. Allianz SE acquired a new position in Newmont in the 4th quarter valued at approximately $65,385,000. Allstate Corp purchased a new stake in Newmont in the 4th quarter worth approximately $1,260,000. Finally, DnB Asset Management AS raised its holdings in shares of Newmont by 4.5% during the fourth quarter. DnB Asset Management AS now owns 236,433 shares of the basic materials company's stock worth $8,800,000 after acquiring an additional 10,266 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research report on Friday. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Scotiabank dropped their target price on shares of 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, Raymond James raised their price target on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.09.

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Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company'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 transaction, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

Shares of Newmont stock traded down $4.08 during midday trading on Friday, hitting $44.25. 21,146,797 shares of the company were exchanged, compared to its average volume of 9,698,987. The firm has a 50 day simple moving average of $45.34 and a 200-day simple moving average of $45.33. Newmont Co. has a 52 week low of $36.60 and a 52 week high of $58.72. The firm has a market cap of $49.88 billion, a P/E ratio of 15.10, 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 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 the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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