Newmont Co. (NYSE:NEM) Shares Acquired by Patten Group Inc.

Patten Group Inc. increased its position in shares of Newmont Co. (NYSE:NEM) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,257 shares of the basic materials company’s stock after acquiring an additional 1,568 shares during the period. Patten Group Inc.’s holdings in Newmont were worth $1,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the third quarter worth $28,000. HHM Wealth Advisors LLC increased 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 acquiring an additional 350 shares during the period. McIlrath & Eck LLC raised its stake in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Newmont in the fourth quarter valued at $43,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was 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 link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NEM shares. Scotiabank reduced their price target 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. TD Securities lowered 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. Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. 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 assigned a strong buy rating to the company. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Down 1.3 %

Shares of Newmont stock opened at $42.30 on Tuesday. 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 company has a market capitalization of $47.67 billion, a P/E ratio of 14.44, a PEG ratio of 0.41 and a beta of 0.52. Newmont Co. has a 1 year low of $31.67 and a 1 year high of $58.72. The company’s fifty day moving average is $42.09 and its two-hundred day moving average is $46.21.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.32 billion. Analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio 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.