Newmont Co. (NYSE:NEM) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC decreased its position in Newmont Co. (NYSE:NEM) by 25.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,066 shares of the basic materials company’s stock after selling 2,060 shares during the period. Premier Path Wealth Partners LLC’s holdings in Newmont were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd raised its stake in shares of Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after purchasing an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC raised its position in Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the last quarter. Nordea Investment Management AB raised its position in Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Red Cedar Investment Management LLC acquired a new stake in Newmont during the 3rd quarter valued at approximately $1,263,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Newmont by 57.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. Jefferies Financial Group boosted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Newmont Trading Up 0.2 %

Shares of NEM stock opened at $41.72 on Monday. 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 Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company’s 50-day moving average price is $40.29 and its 200-day moving average price is $46.86. The stock has a market cap of $47.50 billion, a price-to-earnings ratio of -27.45, a PEG ratio of 0.31 and a beta of 0.50.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the business earned $0.36 EPS. Newmont’s revenue was up 84.7% compared to the same quarter last year. As a group, equities analysts predict that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Newmont’s payout ratio is currently -65.79%.

Insider Activity at Newmont

In other Newmont news, 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 value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,077 shares of company stock worth $563,080. Insiders own 0.06% of the company’s stock.

About Newmont

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.