Ipswich Investment Management Co. Inc. Has $524,000 Holdings in Newmont Co. (NYSE:NEM)

Ipswich Investment Management Co. Inc. lessened its holdings in Newmont Co. (NYSE:NEM) by 45.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,069 shares of the basic materials company’s stock after selling 11,770 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Newmont were worth $524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. E. Ohman J or Asset Management AB grew its holdings in Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares in the last quarter. Carmel Capital Partners LLC grew its stake in Newmont by 4.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 226 shares during the period. Studio Investment Management LLC grew its stake in Newmont by 29.4% in the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 261 shares during the period. Confluence Investment Management LLC grew its stake in Newmont by 2.4% in the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares during the period. Finally, Fiduciary Financial Group LLC grew its stake in Newmont by 3.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 303 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NEM. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Royal Bank of Canada upped their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.37.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 in the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

NEM opened at $45.25 on Friday. The stock’s 50 day simple moving average is $41.56 and its 200 day simple moving average is $46.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a market cap of $51.52 billion, a price-to-earnings ratio of -29.77, a PEG ratio of 0.40 and a beta of 0.52.

Newmont (NYSE:NEM) last posted its quarterly 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. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, analysts predict that Newmont Co. will post 3.11 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.21%. 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.