Cadinha & Co. LLC Sells 328,339 Shares of Newmont Co. (NYSE:NEM)

Cadinha & Co. LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 98.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,850 shares of the basic materials company’s stock after selling 328,339 shares during the quarter. Cadinha & Co. LLC’s holdings in Newmont were worth $255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clarius Group LLC grew its stake in Newmont by 5.3% in the fourth quarter. Clarius Group LLC now owns 6,990 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 349 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Newmont by 4.9% during the 4th quarter. HB Wealth Management LLC now owns 14,471 shares of the basic materials company’s stock valued at $539,000 after buying an additional 673 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Newmont in the 4th quarter worth about $304,000. Avanza Fonder AB bought a new position in shares of Newmont in the 4th quarter worth about $4,269,000. Finally, Procyon Advisors LLC lifted its position in Newmont by 14.1% during the 4th quarter. Procyon Advisors LLC now owns 14,064 shares of the basic materials company’s stock valued at $523,000 after acquiring an additional 1,734 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 in the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Newmont Price Performance

Shares of Newmont stock opened at $41.72 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’s fifty day moving average is $40.29 and its 200 day moving average is $46.83. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, equities research analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

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.