ExodusPoint Capital Management LP Sells 343,528 Shares of Newmont Co. (NYSE:NEM)

ExodusPoint Capital Management LP lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 62.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 206,943 shares of the basic materials company’s stock after selling 343,528 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Newmont were worth $7,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its position in shares of 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 position in shares of Newmont in the fourth quarter valued at approximately $38,000. McIlrath & Eck LLC increased its position in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Newmont during the fourth quarter worth $43,000. Finally, Assetmark Inc. lifted its position in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 820 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. TD Securities cut their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada raised their price target on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Friday. Raymond James boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.09.

Newmont Stock Down 8.4 %

NEM opened at $44.25 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $45.34 and its 200 day simple moving average is $45.33. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. The stock has a market cap of $49.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, 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 SEC, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of Newmont 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 sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.05% of the company’s stock.

Newmont 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.