Newmont Co. (NYSE:NEM) Stock Position Trimmed by Wolverine Asset Management LLC

Wolverine Asset Management LLC decreased its position in Newmont Co. (NYSE:NEM) by 36.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the basic materials company’s stock after selling 7,000 shares during the period. Wolverine Asset Management LLC’s holdings in Newmont were worth $447,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NEM. ING Groep NV grew its holdings in Newmont by 142.6% in the 4th quarter. ING Groep NV now owns 372,412 shares of the basic materials company’s stock worth $13,861,000 after buying an additional 218,904 shares in the last quarter. Boston Financial Mangement LLC boosted its position in Newmont by 1.8% during the 4th quarter. Boston Financial Mangement LLC now owns 85,485 shares of the basic materials company’s stock worth $3,182,000 after acquiring an additional 1,505 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Newmont by 23.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 34,347 shares of the basic materials company’s stock worth $1,278,000 after purchasing an additional 6,549 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Newmont by 13.0% during the fourth quarter. Handelsbanken Fonder AB now owns 476,414 shares of the basic materials company’s stock valued at $17,732,000 after purchasing an additional 54,667 shares during the period. Finally, Alberta Investment Management Corp raised its stake in shares of Newmont by 35.3% during the fourth quarter. Alberta Investment Management Corp now owns 341,601 shares of the basic materials company’s stock valued at $12,714,000 after purchasing an additional 89,201 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Scotiabank lowered their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. CLSA began coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.37.

Newmont Trading Down 5.9 %

Shares of NEM opened at $45.25 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The stock has a market capitalization of $51.52 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. The business’s 50-day moving average price is $41.56 and its 200 day moving average price is $46.45.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The business 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%. Analysts expect that Newmont Co. will post 3.45 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. Stockholders of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date 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.