Twin Capital Management Inc. Cuts Position in Newmont Co. (NYSE:NEM)

Twin Capital Management Inc. trimmed its position in shares of Newmont Co. (NYSE:NEM) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,544 shares of the basic materials company’s stock after selling 713 shares during the quarter. Twin Capital Management Inc.’s holdings in Newmont were worth $1,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its stake in Newmont by 1.6% in 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 boosted its holdings in shares of Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the last quarter. Norges Bank acquired a new position in Newmont during the fourth quarter valued at $626,074,000. Amundi raised its stake in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after buying an additional 1,507,708 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after buying an additional 2,028,150 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Raymond James increased their target price on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada lifted their price target on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Friday. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $54.09.

Newmont Stock Up 1.5 %

Newmont stock opened at $44.83 on Tuesday. The stock’s fifty day moving average is $45.41 and its two-hundred day moving average is $45.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market cap of $50.54 billion, a PE ratio of 15.30, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced 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 was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%. Newmont’s payout ratio is 34.13%.

Insider Buying and Selling at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 in the last ninety days. Insiders own 0.05% of the company’s stock.

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.