Prudent Man Advisors LLC Reduces Holdings in Newmont Co. (NYSE:NEM)

Prudent Man Advisors LLC decreased its stake in shares of Newmont Co. (NYSE:NEM) by 13.6% during the fourth quarter, HoldingsChannel reports. The firm owned 15,241 shares of the basic materials company’s stock after selling 2,396 shares during the quarter. Prudent Man Advisors LLC’s holdings in Newmont were worth $567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. increased its stake in shares of Newmont by 3.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,438 shares of the basic materials company’s stock worth $451,000 after acquiring an additional 309 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Newmont during the third quarter valued at approximately $210,000. First Trust Direct Indexing L.P. boosted its position in shares of Newmont by 13.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 30,571 shares of the basic materials company’s stock worth $1,634,000 after purchasing an additional 3,676 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Newmont by 24.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 19,505 shares of the basic materials company’s stock worth $1,043,000 after buying an additional 3,797 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in Newmont by 716.7% during the third quarter. JFS Wealth Advisors LLC now owns 4,067 shares of the basic materials company’s stock valued at $217,000 after buying an additional 3,569 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 1.7 %

NEM stock opened at $42.83 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 firm’s fifty day simple moving average is $42.01 and its two-hundred day simple moving average is $46.30. Newmont Co. has a twelve month low of $30.93 and a twelve month high of $58.72. The stock has a market capitalization of $48.26 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last announced 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 for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. Newmont’s dividend payout ratio is presently 34.13%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NEM shares. 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. Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This trade represents 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 accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the 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 $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.