Sand Hill Global Advisors LLC Sells 29,480 Shares of Newmont Co. (NYSE:NEM)

Sand Hill Global Advisors LLC lessened its stake in Newmont Co. (NYSE:NEM - Free Report) by 26.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,802 shares of the basic materials company's stock after selling 29,480 shares during the quarter. Sand Hill Global Advisors LLC's holdings in Newmont were worth $3,045,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NEM. Kovitz Investment Group Partners LLC lifted its position in shares of Newmont by 6.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 90,782 shares of the basic materials company's stock valued at $4,852,000 after buying an additional 5,776 shares during the last quarter. Insigneo Advisory Services LLC acquired a new stake in shares of Newmont during the 3rd quarter worth about $204,000. EP Wealth Advisors LLC boosted its holdings in shares of Newmont by 31.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 45,225 shares of the basic materials company's stock worth $2,417,000 after buying an additional 10,811 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Newmont by 58.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 14,851 shares of the basic materials company's stock worth $794,000 after buying an additional 5,489 shares during the period. Finally, MML Investors Services LLC grew its stake in Newmont by 5.8% in the 3rd quarter. MML Investors Services LLC now owns 104,301 shares of the basic materials company's stock valued at $5,575,000 after buying an additional 5,695 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Newmont Stock Up 7.6 %

NYSE NEM traded up $3.86 during trading hours on Friday, hitting $54.80. The company's stock had a trading volume of 31,726,645 shares, compared to its average volume of 9,865,376. The company has a market capitalization of $61.77 billion, a PE ratio of 18.70, 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 52 week low of $36.60 and a 52 week high of $58.72. The company's 50-day simple moving average is $46.17 and its two-hundred day simple moving average is $45.04.

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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.32 billion. Research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's dividend payout ratio is 34.13%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares of the company's stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,154 shares of company stock worth $825,678 over the last three months. 0.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

NEM has been the topic of several recent research reports. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $60.00 in a research report on Friday. TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada boosted their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average price target of $54.55.

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.