Capital Investment Advisors LLC Sells 9,946 Shares of Newmont Co. (NYSE:NEM)

Capital Investment Advisors LLC cut its holdings in Newmont Co. (NYSE:NEM) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 602,641 shares of the basic materials company’s stock after selling 9,946 shares during the period. Capital Investment Advisors LLC’s holdings in Newmont were worth $22,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares during the period. Legal & General Group Plc grew its stake in shares of Newmont by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after buying an additional 109,084 shares in the last quarter. FMR LLC lifted its stake in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after buying an additional 545,903 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Newmont by 29.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after acquiring an additional 1,074,623 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday. They set a “buy” rating and a $47.20 price objective for the company. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Newmont Price Performance

Newmont stock traded down $0.10 during trading on Monday, reaching $39.00. The company had a trading volume of 2,221,957 shares, compared to its average volume of 7,220,972. The firm has a market capitalization of $44.40 billion, a PE ratio of -25.66, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. The firm’s 50-day simple moving average is $40.74 and its 200 day simple moving average is $46.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Insider Activity at Newmont

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction 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 acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

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.