Parkside Financial Bank & Trust Has $633,000 Position in Newmont Co. (NYSE:NEM)

Parkside Financial Bank & Trust lowered its stake in shares of Newmont Co. (NYSE:NEM) by 18.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,006 shares of the basic materials company’s stock after selling 3,880 shares during the period. Parkside Financial Bank & Trust’s holdings in Newmont were worth $633,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Zurich Insurance Group Ltd FI acquired a new position in Newmont in the third quarter worth about $98,011,000. 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 worth $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. FMR LLC raised its position in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Newmont by 57.1% in 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 purchasing an additional 865,213 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after purchasing an additional 797,445 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $42.83 on Friday. Newmont Co. has a one year low of $30.93 and a one year high of $58.72. The stock has a market capitalization of $48.26 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company’s 50 day simple moving average is $42.01 and its 200-day simple moving average is $46.30.

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

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. Newmont’s payout ratio is presently 34.13%.

Analysts Set New Price Targets

Several research firms recently issued reports on NEM. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada upped 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. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Scotiabank decreased their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling at Newmont

In other Newmont 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 value of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by insiders.

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.