Vanguard Group Inc. Sells 514,173 Shares of Newmont Co. (NYSE:NEM)

Vanguard Group Inc. reduced its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,127,613 shares of the basic materials company's stock after selling 514,173 shares during the period. Vanguard Group Inc. owned about 11.87% of Newmont worth $5,029,450,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Newmont by 10.5% during the third quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company's stock valued at $4,775,000 after purchasing an additional 8,449 shares during the period. Avior Wealth Management LLC lifted its position in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after buying an additional 326 shares in the last quarter. Banco Santander S.A. grew its stake in shares of Newmont by 43.8% during the 3rd quarter. Banco Santander S.A. now owns 11,424 shares of the basic materials company's stock valued at $611,000 after acquiring an additional 3,480 shares during the period. Raymond James Trust N.A. increased its holdings in Newmont by 19.4% in the 3rd quarter. Raymond James Trust N.A. now owns 11,318 shares of the basic materials company's stock worth $605,000 after acquiring an additional 1,836 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in Newmont during the 3rd quarter worth approximately $678,000. 68.85% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of equities analysts have weighed in on NEM shares. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price target for the company. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 21st. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an "underperform" rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.16.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business'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 transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was 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 owns 82,596 shares of the company's stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by insiders.

Newmont Price Performance

Newmont stock traded up $0.64 during mid-day trading on Thursday, reaching $48.03. 4,347,365 shares of the company's stock traded hands, compared to its average volume of 9,341,733. Newmont Co. has a 12-month low of $34.18 and a 12-month high of $58.72. The company has a market cap of $54.15 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.41 and a beta of 0.54. The stock has a 50 day moving average of $44.52 and a two-hundred day moving average of $45.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

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 net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.32 billion. Equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is 34.13%.

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.