Newmont Co. (NYSE:NEM) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management lowered its position in Newmont Co. (NYSE:NEM) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 53,832 shares of the basic materials company’s stock after selling 916 shares during the quarter. Hollencrest Capital Management’s holdings in Newmont were worth $2,004,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC raised its position in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Newmont during the 3rd quarter worth about $28,000. HHM Wealth Advisors LLC raised its position in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Promus Capital LLC acquired a new position in shares of Newmont during the 4th quarter worth about $38,000. Finally, McIlrath & Eck LLC raised its position in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’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 $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on NEM. CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Scotiabank reduced their price target 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. Raymond James dropped their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Stock Performance

Newmont stock opened at $43.45 on Wednesday. The firm has a 50 day simple moving average of $42.76 and a 200-day simple moving average of $45.87. 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 $33.29 and a 1-year high of $58.72. The stock has a market cap of $48.96 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

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.