American Century Companies Inc. Has $31.98 Million Stake in Newmont Co. (NYSE:NEM)

American Century Companies Inc. cut its stake in shares of Newmont Co. (NYSE:NEM) by 11.6% during the 4th quarter, HoldingsChannel reports. The firm owned 859,093 shares of the basic materials company’s stock after selling 112,360 shares during the period. American Century Companies Inc.’s holdings in Newmont were worth $31,975,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted its holdings in shares of Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB raised its position in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after purchasing an additional 865,213 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Newmont during the fourth quarter worth about $245,000. Finally, Moody National Bank Trust Division increased its stake in shares of Newmont by 13.6% in the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after buying an additional 2,645 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Newmont stock opened at $48.06 on Friday. The stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52-week low of $36.10 and a 52-week high of $58.72. 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 stock’s 50 day moving average price is $44.78 and its two-hundred day moving average price is $45.50.

Newmont (NYSE:NEM) last issued its earnings results 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. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. On average, equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NEM shares. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Finally, Royal Bank of Canada upped their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is owned by company insiders.

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.