Pictet Asset Management Holding SA Reduces Stake in Newmont Co. (NYSE:NEM)

Pictet Asset Management Holding SA decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 715,252 shares of the basic materials company’s stock after selling 88,545 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Newmont were worth $26,622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. HHM Wealth Advisors LLC increased its position in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC acquired a new position in Newmont during the fourth quarter worth approximately $38,000. McIlrath & Eck LLC boosted its holdings in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Newmont during the fourth quarter worth approximately $43,000. Finally, Assetmark Inc. increased its holdings in shares of Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 820 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. National Bank Financial raised shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Royal Bank of Canada boosted 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. Scotiabank decreased their price objective on 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 target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’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 transaction, the director now directly owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $48.28 on Tuesday. The company’s fifty day moving average is $44.91 and its two-hundred day moving average is $45.39. 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 $54.43 billion, a P/E ratio of 16.48, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $36.10 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. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont’s dividend payout ratio is presently 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.