Sage Rhino Capital LLC Sells 426 Shares of Newmont Co. (NYSE:NEM)

Sage Rhino Capital LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,830 shares of the basic materials company’s stock after selling 426 shares during the quarter. Sage Rhino Capital LLC’s holdings in Newmont were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC grew its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont in the third quarter worth $28,000. HHM Wealth Advisors LLC grew its stake in Newmont by 66.0% in 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. McIlrath & Eck LLC grew its stake in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in Newmont in the fourth quarter worth $43,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $42.83 on Monday. The stock has a market capitalization of $48.26 billion, a PE ratio of 14.62, a P/E/G ratio of 0.41 and a beta of 0.52. The business has a 50 day simple moving average of $42.01 and a two-hundred day simple moving average of $46.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1-year low of $31.67 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly 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. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. On average, research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NEM. Bernstein Bank upped their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada increased their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,154 shares of company stock valued at $1,166,843. 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.