Te Ahumairangi Investment Management Ltd Sells 9,550 Shares of Newmont Co. (NYSE:NEM)

Te Ahumairangi Investment Management Ltd decreased its stake in shares of Newmont Co. (NYSE:NEM) by 7.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 120,168 shares of the basic materials company’s stock after selling 9,550 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Newmont were worth $4,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Newmont in the fourth quarter worth about $626,074,000. Zurich Insurance Group Ltd FI purchased a new position in Newmont during the 3rd quarter valued at approximately $98,011,000. Allianz SE bought a new stake in Newmont in the 4th quarter worth approximately $65,385,000. Nordea Investment Management AB raised its holdings in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares in the last quarter. Finally, Amundi boosted its position in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of NYSE:NEM opened at $48.29 on Wednesday. The firm has a 50 day moving average of $45.03 and a 200 day moving average of $45.35. 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 company has a market capitalization of $54.44 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $36.44 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

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.