Schulhoff & Co. Inc. Sells 2,000 Shares of Newmont Co. (NYSE:NEM)

Schulhoff & Co. Inc. trimmed its position in shares of Newmont Co. (NYSE:NEM) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,850 shares of the basic materials company’s stock after selling 2,000 shares during the period. Schulhoff & Co. Inc.’s holdings in Newmont were worth $367,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the period. Geode Capital Management LLC raised its holdings in Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after purchasing an additional 326,243 shares in the last quarter. FMR LLC lifted its position in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares during the period. Ninety One UK Ltd boosted its stake in shares of Newmont by 27.5% during the 4th quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock valued at $128,649,000 after purchasing an additional 744,718 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Newmont by 0.3% during the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after buying an additional 9,500 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Down 3.5 %

NEM opened at $42.06 on Friday. The firm’s 50 day simple moving average is $41.92 and its two-hundred day simple moving average is $46.34. The company has a market capitalization of $47.39 billion, a PE ratio of 14.35, a PEG ratio of 0.41 and a beta of 0.52. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. 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 issued its quarterly 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 business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NEM. Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. CLSA started coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were 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 owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 over the last 90 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.