Philadelphia Trust Co. Sells 17,236 Shares of Newmont Co. (NYSE:NEM)

Philadelphia Trust Co. cut its stake in Newmont Co. (NYSE:NEM - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 241,659 shares of the basic materials company's stock after selling 17,236 shares during the quarter. Philadelphia Trust Co.'s holdings in Newmont were worth $8,995,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its stake in Newmont by 58.6% in the third quarter. Orion Portfolio Solutions LLC now owns 14,851 shares of the basic materials company's stock worth $794,000 after purchasing an additional 5,489 shares during the last quarter. MML Investors Services LLC grew its stake in Newmont by 5.8% in the third quarter. MML Investors Services LLC now owns 104,301 shares of the basic materials company's stock worth $5,575,000 after purchasing an additional 5,695 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Newmont by 26.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,899 shares of the basic materials company's stock worth $764,000 after buying an additional 3,129 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Newmont during the 3rd quarter valued at about $218,000. Finally, Sunbelt Securities Inc. increased its position in shares of Newmont by 33.9% during the third quarter. Sunbelt Securities Inc. now owns 5,622 shares of the basic materials company's stock valued at $300,000 after acquiring an additional 1,423 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock valued at $825,678 in the last quarter. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Raymond James lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Royal Bank of Canada upped their price target on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. BMO Capital Markets assumed coverage on shares of Newmont in a research note on Wednesday. They issued an "outperform" rating and a $63.00 price objective for the company. Finally, UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and upped their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $55.02.

Newmont Stock Performance

Shares of NYSE:NEM traded up $1.62 on Wednesday, reaching $56.20. 10,441,894 shares of the company's stock were exchanged, compared to its average volume of 9,832,219. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The firm has a market capitalization of $63.35 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 0.41 and a beta of 0.54. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business's 50-day moving average is $46.56 and its two-hundred day moving average is $45.04.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.78%. Newmont's dividend payout ratio (DPR) is currently 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.