Prudential PLC Sells 5,951 Shares of Newmont Co. (NYSE:NEM)

Prudential PLC cut its holdings in Newmont Co. (NYSE:NEM - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,462 shares of the basic materials company's stock after selling 5,951 shares during the period. Prudential PLC's holdings in Newmont were worth $8,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Norges Bank acquired a new position in Newmont in the fourth quarter valued at approximately $626,074,000. Zurich Insurance Group Ltd FI purchased a new position in Newmont during the 3rd quarter worth $98,011,000. Allianz SE acquired a new position in Newmont in the 4th quarter valued at about $65,385,000. Nordea Investment Management AB increased its holdings in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the period. Finally, Amundi increased its stake in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

NEM stock traded down $4.08 during trading on Friday, reaching $44.25. 21,146,797 shares of the stock were exchanged, compared to its average volume of 9,653,406. The company has a market capitalization of $49.88 billion, a P/E ratio of 15.10, a price-to-earnings-growth 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. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72. The stock has a 50 day simple moving average of $45.34 and a 200-day simple moving average of $45.33.

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Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 13.52% and a net margin of 17.92%. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 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 $120,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. 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 note on Friday. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. Raymond James raised their price target on Newmont from $54.00 to $63.00 and gave the stock 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 decreased their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average price target of $54.09.

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.