Newmont Co. (NYSE:NEM) Shares Sold by Waverton Investment Management Ltd

Waverton Investment Management Ltd cut its holdings in shares of Newmont Co. (NYSE:NEM) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 516,425 shares of the basic materials company’s stock after selling 14,616 shares during the period. Waverton Investment Management Ltd’s holdings in Newmont were worth $19,219,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd grew its position in Newmont by 253.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 216,251 shares of the basic materials company’s stock worth $8,049,000 after purchasing an additional 155,078 shares during the last quarter. Howard Capital Management Inc. grew its holdings in shares of Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after buying an additional 292 shares during the last quarter. Fisher Funds Management LTD purchased a new position in shares of Newmont during the fourth quarter worth about $3,083,000. Olympiad Research LP acquired a new position in Newmont in the 4th quarter valued at about $233,000. Finally, Capital City Trust Co. FL raised its stake in Newmont by 6.7% during the 4th quarter. Capital City Trust Co. FL now owns 6,400 shares of the basic materials company’s stock valued at $238,000 after acquiring an additional 400 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on NEM. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank lowered their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 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 transaction of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,154 shares of company stock worth $1,166,843. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $45.25 on Monday. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business’s 50 day simple moving average is $41.56 and its 200-day simple moving average is $46.45. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.32 billion. As a group, equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.21%. Newmont’s dividend payout ratio (DPR) is currently 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.