Wellington Shields Capital Management LLC Sells 993 Shares of Newmont Co. (NYSE:NEM)

Wellington Shields Capital Management LLC decreased its holdings in Newmont Co. (NYSE:NEM) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,718 shares of the basic materials company’s stock after selling 993 shares during the period. Wellington Shields Capital Management LLC’s holdings in Newmont were worth $362,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its position in Newmont by 33.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 399,644 shares of the basic materials company’s stock valued at $14,875,000 after acquiring an additional 101,275 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Newmont by 2.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 235,047 shares of the basic materials company’s stock valued at $8,697,000 after purchasing an additional 5,900 shares during the last quarter. Erste Asset Management GmbH increased its position in Newmont by 5.0% during the 4th quarter. Erste Asset Management GmbH now owns 230,007 shares of the basic materials company’s stock worth $8,701,000 after purchasing an additional 11,014 shares in the last quarter. Achmea Investment Management B.V. bought a new position in Newmont in the 4th quarter valued at approximately $829,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Newmont in the fourth quarter valued at approximately $21,519,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value 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. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NEM. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Scotiabank dropped their target price 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. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Finally, Raymond James cut their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Up 1.4 %

NYSE NEM opened at $46.27 on Friday. Newmont Co. has a one year low of $33.29 and a one year high of $58.72. 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 business has a 50 day simple moving average of $43.20 and a 200 day simple moving average of $45.81. The stock has a market capitalization of $52.14 billion, a P/E ratio of 15.79, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Research analysts expect 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 will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.16%. Newmont’s dividend payout ratio is presently 34.13%.

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.