Newmont Co. (NYSE:NEM) Stock Position Decreased by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. cut its stake in shares of Newmont Co. (NYSE:NEM) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,100 shares of the basic materials company’s stock after selling 17,000 shares during the period. Newmont makes up about 0.9% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 24th biggest position. Adams Natural Resources Fund Inc.’s holdings in Newmont were worth $5,698,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sciencast Management LP lifted its stake in Newmont by 4.6% during the fourth quarter. Sciencast Management LP now owns 54,859 shares of the basic materials company’s stock valued at $2,042,000 after buying an additional 2,404 shares in the last quarter. Summit Global Investments raised its holdings in shares of Newmont by 14.4% during the fourth quarter. Summit Global Investments now owns 8,657 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 1,092 shares during the period. Blueshift Asset Management LLC purchased a new stake in shares of Newmont in the 4th quarter valued at approximately $256,000. Magnetar Financial LLC acquired a new position in Newmont in the 4th quarter worth approximately $205,000. Finally, Teacher Retirement System of Texas grew its position in Newmont by 773.7% during the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company’s stock worth $2,511,000 after purchasing an additional 59,740 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the 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 approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their position. 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. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James decreased 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. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Performance

Shares of NYSE NEM opened at $47.23 on Friday. The business’s 50-day simple moving average is $44.10 and its 200-day simple moving average is $45.63. Newmont Co. has a 52 week low of $33.77 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 firm has a market cap of $53.22 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating 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%. As a group, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend 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.