Barings LLC Sells 8,926 Shares of Newmont Co. (NYSE:NEM)

Barings LLC lessened its stake in Newmont Co. (NYSE:NEM) by 10.9% in the fourth quarter, HoldingsChannel reports. The firm owned 72,724 shares of the basic materials company’s stock after selling 8,926 shares during the period. Barings LLC’s holdings in Newmont were worth $2,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in 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 purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Newmont in the third quarter valued at about $28,000. McIlrath & Eck LLC increased its holdings 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 increased its holdings in Newmont by 66.0% in 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 last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Newmont in the third quarter valued at about $52,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’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 completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NEM. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Scotiabank lowered their price target 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 lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. TD Securities lowered their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Finally, StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One 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. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Stock Performance

Shares of NYSE NEM opened at $43.88 on Friday. The stock has a 50 day moving average price of $42.53 and a 200 day moving average price of $46.03. Newmont Co. has a 52 week low of $33.29 and a 52 week 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 stock has a market capitalization of $49.44 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.28%. 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.