Bank of Hawaii Has $1.01 Million Stock Position in Newmont Co. (NYSE:NEM)

Bank of Hawaii reduced its position in shares of Newmont Co. (NYSE:NEM) by 18.4% during the 4th quarter, HoldingsChannel.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 quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC lifted its stake in Newmont by 3.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after buying an additional 219 shares during the period. Confluence Investment Management LLC lifted its position in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after buying an additional 281 shares during the last quarter. Howard Capital Management Inc. boosted its stake in Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 292 shares during the period. Intact Investment Management Inc. boosted its stake in Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 300 shares during the period. Finally, Fiduciary Financial Group LLC boosted its position in shares of Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 303 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on NEM. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their target price on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.09.

Newmont Price Performance

Shares of NYSE:NEM opened at $48.77 on Thursday. Newmont Co. has a 52 week low of $36.60 and a 52 week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $54.97 billion, a P/E ratio of 16.64, a PEG ratio of 0.41 and a beta of 0.54. The company has a 50-day moving average price of $45.78 and a 200 day moving average price of $45.08.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. Newmont’s payout ratio is currently 34.13%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the 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 owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.05% 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.