DORCHESTER WEALTH MANAGEMENT Co Sells 1,817 Shares of Newmont Co. (NYSE:NEM)

DORCHESTER WEALTH MANAGEMENT Co lowered its stake in shares of Newmont Co. (NYSE:NEM) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,410 shares of the basic materials company’s stock after selling 1,817 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Newmont were worth $5,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd boosted its holdings in Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in 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 worth $88,580,000 after buying an additional 865,213 shares during the last quarter. Finally, Red Cedar Investment Management LLC bought a new position in Newmont during the third quarter worth about $1,263,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 5.9 %

Shares of Newmont stock opened at $45.25 on Friday. The firm has a market cap of $51.52 billion, a PE ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The business’s 50 day simple moving average is $41.56 and its 200 day simple moving average is $46.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted its quarterly 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 firm 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 predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NEM shares. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada lifted their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. Finally, CLSA assumed coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 in the last 90 days. 0.06% of the stock is currently owned by insiders.

About Newmont

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.