NFP Retirement Inc. Decreases Stock Position in Newmont Co. (NYSE:NEM)

NFP Retirement Inc. cut its stake in shares of Newmont Co. (NYSE:NEM) by 4.5% in the 4th quarter, HoldingsChannel reports. The fund owned 26,107 shares of the basic materials company’s stock after selling 1,225 shares during the quarter. NFP Retirement Inc.’s holdings in Newmont were worth $972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Sterling Capital Management LLC raised its holdings in Newmont by 1,532.6% during the 4th quarter. Sterling Capital Management LLC now owns 84,193 shares of the basic materials company’s stock valued at $3,134,000 after buying an additional 79,036 shares during the last quarter. Argent Trust Co lifted its stake in Newmont by 61.7% in the fourth quarter. Argent Trust Co now owns 42,169 shares of the basic materials company’s stock worth $1,570,000 after acquiring an additional 16,094 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Newmont by 2.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 697,005 shares of the basic materials company’s stock valued at $25,943,000 after purchasing an additional 18,860 shares in the last quarter. Redwood Park Advisors LLC bought a new stake in Newmont during the 4th quarter valued at approximately $37,000. Finally, Phoenix Financial Ltd. raised its position in shares of Newmont by 35.7% in the 4th quarter. Phoenix Financial Ltd. now owns 10,668 shares of the basic materials company’s stock worth $397,000 after acquiring an additional 2,807 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Up 4.7 %

Newmont stock opened at $51.06 on Friday. The stock has a market cap of $57.55 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a fifty day moving average of $45.94 and a 200 day moving average of $45.05. Newmont Co. has a one year low of $36.60 and a one year high of $58.72.

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 the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, sell-side analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company’s stock, valued at $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,154 shares of company stock worth $825,678 in the last three months. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Royal Bank of Canada raised their price target on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday, April 4th. Finally, Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.09.

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.