Newmont Co. (NYSE:NEM) Shares Sold by TAP Consulting LLC

TAP Consulting LLC lowered its stake in Newmont Co. (NYSE:NEM) by 27.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,501 shares of the basic materials company’s stock after selling 2,881 shares during the period. TAP Consulting LLC’s holdings in Newmont were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Royal London Asset Management Ltd. lifted its holdings in Newmont by 4.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 497,828 shares of the basic materials company’s stock worth $18,529,000 after buying an additional 22,682 shares during the last quarter. Generali Investments Management Co LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $126,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Newmont by 10.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,366 shares of the basic materials company’s stock worth $544,000 after acquiring an additional 1,397 shares in the last quarter. Xponance Inc. boosted its holdings in Newmont by 0.6% in the fourth quarter. Xponance Inc. now owns 166,085 shares of the basic materials company’s stock valued at $6,182,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in Newmont in the fourth quarter valued at approximately $32,742,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company’s 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 $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, 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 33,231 shares of company stock worth $1,388,758 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Scotiabank reduced their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Raymond James reduced their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Royal Bank of Canada raised their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Price Performance

Shares of NYSE NEM opened at $48.00 on Thursday. The company’s fifty day moving average is $43.76 and its two-hundred day moving average is $45.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market capitalization of $54.09 billion, a P/E ratio of 16.38, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $33.29 and a one year high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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 analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

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.