Moors & Cabot Inc. Has $2.33 Million Stake in Newmont Co. (NYSE:NEM)

Moors & Cabot Inc. decreased its stake in Newmont Co. (NYSE:NEM) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,460 shares of the basic materials company’s stock after selling 6,043 shares during the quarter. Moors & Cabot Inc.’s holdings in Newmont were worth $2,325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in 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 purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Newmont in the third quarter worth $28,000. HHM Wealth Advisors LLC boosted its stake in Newmont by 66.0% in 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 in the last quarter. Promus Capital LLC acquired a new position in Newmont in the fourth quarter worth $38,000. Finally, McIlrath & Eck LLC boosted 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 worth $43,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 0.7 %

NYSE NEM opened at $43.72 on Thursday. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72. The stock has a 50-day simple moving average of $42.89 and a 200 day simple moving average of $45.85. The company has a market capitalization of $49.26 billion, a PE ratio of 14.92, a P/E/G ratio of 0.41 and a beta of 0.54. 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 (NYSE:NEM) last announced its quarterly 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 return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Scotiabank reduced their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. CLSA started coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Raymond James dropped their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. Finally, Royal Bank of Canada boosted 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insiders Place Their Bets

In other news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.