Sage Mountain Advisors LLC Lowers Stake in Newmont Co. (NYSE:NEM)

Sage Mountain Advisors LLC lessened its stake in Newmont Co. (NYSE:NEM) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,900 shares of the basic materials company’s stock after selling 333 shares during the period. Sage Mountain Advisors LLC’s holdings in Newmont were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake 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 valued at $27,000 after buying an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Newmont during the 3rd quarter valued at about $28,000. HHM Wealth Advisors LLC increased its stake in Newmont by 66.0% during the fourth 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 period. Promus Capital LLC acquired a new stake in shares of Newmont during the fourth quarter worth about $38,000. Finally, McIlrath & Eck LLC boosted its stake in shares of 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 period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Raymond James cut their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont Trading Up 0.7 %

NYSE NEM opened at $43.72 on Thursday. The firm’s fifty day moving average is $42.89 and its two-hundred day moving average is $45.85. Newmont Co. has a one year low of $33.29 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $49.26 billion, a PE ratio of 14.92, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 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.