Thurston Springer Miller Herd & Titak Inc. Decreases Holdings in Newmont Co. (NYSE:NEM)

Thurston Springer Miller Herd & Titak Inc. trimmed its holdings in Newmont Co. (NYSE:NEM - Free Report) by 85.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,552 shares of the basic materials company's stock after selling 9,234 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Newmont were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NEM. Hoese & Co LLP purchased a new position in shares of Newmont in the 3rd quarter worth $27,000. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont in the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont in the third quarter worth $32,000. Finally, McIlrath & Eck LLC raised its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 361 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NEM. JPMorgan Chase & Co. upgraded Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. CIBC downgraded Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Scotiabank downgraded shares of Newmont from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $59.00 to $55.00 in a research note on Friday, October 25th. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. Finally, Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.80.

Insider Transactions at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company's stock, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NEM traded up $0.07 during trading hours on Friday, reaching $41.72. 7,285,053 shares of the company traded hands, compared to its average volume of 8,329,923. 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 has a fifty day moving average price of $40.29 and a 200-day moving average price of $46.83. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a market capitalization of $47.50 billion, a P/E ratio of -27.45, a P/E/G ratio of 0.31 and a beta of 0.50.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion for the quarter, compared to analysts' expectations of $4.67 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. Equities analysts anticipate that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont's payout ratio is -65.79%.

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.