Newmont Co. (NYSE:NEM) Shares Sold by Bank of Hawaii

Bank of Hawaii cut its stake in Newmont Co. (NYSE:NEM) by 18.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,250 shares of the basic materials company’s stock after selling 6,137 shares during the quarter. Bank of Hawaii’s holdings in Newmont were worth $1,014,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC raised its stake in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 57.1% during 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 period. Brookstone Capital Management acquired a new position in shares of Newmont during the 4th quarter worth approximately $245,000. Finally, Moody National Bank Trust Division grew its stake in Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 2,645 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Up 8.5 %

Shares of Newmont stock opened at $48.77 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72. The stock has a market capitalization of $54.97 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 0.41 and a beta of 0.54. The company’s 50 day moving average price is $45.78 and its 200-day moving average price is $45.08.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.05%. Newmont’s payout ratio is presently 34.13%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of analyst reports. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James raised their price objective on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Royal Bank of Canada raised their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. Finally, National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. One research 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, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $54.09.

Insiders Place Their Bets

In other Newmont 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 value of $83,080.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 over the last quarter. Company insiders own 0.05% 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.