Mutual of America Capital Management LLC Cuts Stock Holdings in Newmont Co. (NYSE:NEM)

Mutual of America Capital Management LLC cut its position in shares of Newmont Co. (NYSE:NEM) by 21.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 168,474 shares of the basic materials company’s stock after selling 46,235 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Newmont were worth $6,271,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its position 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 buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Newmont in the 3rd quarter worth approximately $28,000. McIlrath & Eck LLC lifted its stake in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Newmont during the third quarter valued at $52,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Finally, CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Down 1.3 %

Newmont stock opened at $42.30 on Tuesday. The stock has a market cap of $47.67 billion, a P/E ratio of 14.44, a PEG ratio of 0.41 and a beta of 0.52. Newmont Co. has a fifty-two week low of $31.67 and a fifty-two week high of $58.72. The firm’s fifty day moving average price is $42.09 and its 200-day moving average price is $46.21. 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 (NYSE:NEM) last announced 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. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.36%. Newmont’s payout ratio is currently 34.13%.

Insider Transactions at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the transaction, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,154 shares of company stock worth $1,166,843. Company insiders own 0.06% of the company’s stock.

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.