Freestone Capital Holdings LLC Invests $1.27 Million in Newmont Co. (NYSE:NEM)

Freestone Capital Holdings LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, Holdings Channel.com reports. The firm purchased 34,132 shares of the basic materials company’s stock, valued at approximately $1,270,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Carmel Capital Partners LLC raised its stake in shares of Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares in the last quarter. Studio Investment Management LLC raised its stake in shares of Newmont by 29.4% in the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 261 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Newmont by 2.4% in the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 281 shares in the last quarter. Howard Capital Management Inc. raised its stake in shares of Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 292 shares in the last quarter. Finally, Fiduciary Financial Group LLC raised its stake in shares of Newmont by 3.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 303 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % 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 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NEM stock opened at $43.93 on Friday. The stock’s fifty day simple moving average is $42.41 and its 200 day simple moving average is $46.12. 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 firm has a market cap of $49.51 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a one year low of $33.29 and a one year high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate 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%. On average, analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

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.