Pictet Asset Management Holding SA Trims Stock Holdings in Newmont Co. (NYSE:NEM)

Pictet Asset Management Holding SA lowered its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 715,252 shares of the basic materials company's stock after selling 88,545 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Newmont worth $26,622,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in 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. Promus Capital LLC purchased a new stake in Newmont in the 4th quarter valued at about $38,000. McIlrath & Eck LLC lifted its position in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after buying an additional 361 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Newmont during the fourth quarter worth about $43,000. Finally, Assetmark Inc. increased its position in shares of Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 820 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NEM stock traded down $4.19 during trading hours on Friday, reaching $44.15. 14,224,197 shares of the company's stock were exchanged, compared to its average volume of 10,413,551. 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 Co. has a 1 year low of $36.60 and a 1 year high of $58.72. The company has a market cap of $49.76 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company's 50 day moving average is $45.30 and its two-hundred day moving average is $45.39.

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

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.27%. Newmont's payout ratio is currently 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NEM. Royal Bank of Canada upped their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Raymond James lifted their price objective on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Finally, Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.44.

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.