Oxbow Advisors LLC Has $5.19 Million Position in Newmont Co. (NYSE:NEM)

Oxbow Advisors LLC cut its holdings in Newmont Co. (NYSE:NEM) by 5.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 139,491 shares of the basic materials company’s stock after selling 7,889 shares during the quarter. Oxbow Advisors LLC’s holdings in Newmont were worth $5,192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NEM. Sequoia Financial Advisors LLC grew its position in shares of Newmont by 35.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 3,498 shares during the period. Eastern Bank acquired a new position in shares of Newmont in the 3rd quarter valued at approximately $202,000. International Assets Investment Management LLC grew its position in shares of Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after purchasing an additional 964,815 shares during the period. IFM Investors Pty Ltd grew its position in shares of Newmont by 3.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 235,626 shares of the basic materials company’s stock valued at $12,594,000 after purchasing an additional 7,191 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Newmont in the 3rd quarter valued at approximately $9,920,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 5.9 %

Shares of Newmont stock opened at $45.25 on Friday. 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 stock has a market cap of $51.52 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The business’s 50 day moving average is $41.56 and its 200-day moving average is $46.46.

Newmont (NYSE:NEM) last posted its earnings results 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. The business had revenue of $5.65 billion for 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 predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is presently 34.13%.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger acquired 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NEM shares. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

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.