O Shaughnessy Asset Management LLC Has $2.78 Million Stock Holdings in Newmont Co. (NYSE:NEM)

O Shaughnessy Asset Management LLC decreased its stake in shares of Newmont Co. (NYSE:NEM) by 24.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 74,627 shares of the basic materials company’s stock after selling 23,604 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Newmont were worth $2,778,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC lifted its position in shares of Newmont by 66.0% during 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 in the last quarter. Promus Capital LLC bought a new position in Newmont in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC lifted its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. Kestra Investment Management LLC bought a new position in Newmont in the 4th quarter valued at $43,000. Finally, Assetmark Inc. increased its stake in shares of Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after buying an additional 820 shares during the period. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NEM. Royal Bank of Canada raised their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Price Performance

Shares of NEM opened at $48.38 on Friday. The stock has a 50 day simple moving average of $45.30 and a 200 day simple moving average of $45.39. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72. 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 firm has a market capitalization of $54.53 billion, a PE ratio of 16.51, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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 company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Sell-side analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued 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 dividend yield of 2.07%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were 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 in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.05% of the stock is owned by corporate insiders.

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.