Foundry Partners LLC Lowers Position in Newmont Co. (NYSE:NEM)

Foundry Partners LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 261,163 shares of the basic materials company’s stock after selling 2,274 shares during the period. Foundry Partners LLC’s holdings in Newmont were worth $9,720,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank bought a new stake in Newmont in the fourth quarter worth $626,074,000. Amundi raised its stake in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. Finally, Ruffer LLP grew its stake in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

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 report on Monday, February 24th. TD Securities lowered their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Scotiabank decreased their price objective on shares of 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 raised their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 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 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 $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is owned by company insiders.

Newmont Stock Down 0.7 %

Shares of NYSE NEM opened at $48.38 on Friday. The stock’s fifty day simple moving average is $45.30 and its two-hundred day simple moving average is $45.39. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $54.53 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Newmont 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.