Thrivent Financial for Lutherans Trims Holdings in Newmont Co. (NYSE:NEM)

Thrivent Financial for Lutherans decreased its stake in Newmont Co. (NYSE:NEM - Free Report) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,959 shares of the basic materials company's stock after selling 18,328 shares during the period. Thrivent Financial for Lutherans' holdings in Newmont were worth $2,785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NEM. HHM Wealth Advisors LLC grew 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 worth $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC purchased a new position in Newmont in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC raised its holdings in Newmont by 80.6% during the 3rd 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 stake in shares of Newmont during the fourth quarter worth about $43,000. Finally, Assetmark Inc. lifted its holdings in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after buying an additional 820 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NYSE NEM traded up $0.20 during trading on Monday, reaching $48.28. 12,184,299 shares of the company traded hands, compared to its average volume of 9,709,137. The firm has a 50 day simple moving average of $44.91 and a 200-day simple moving average of $45.39. Newmont Co. has a 52-week low of $36.10 and a 52-week high of $58.72. The stock has a market capitalization of $54.43 billion, a PE ratio of 16.48, a P/E/G 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.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NEM shares. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada boosted their price target on Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Finally, TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $53.16.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company'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 transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company's stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is owned by company insiders.

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.