Cornercap Investment Counsel Inc. Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Cornercap Investment Counsel Inc. reduced its holdings in Newmont Co. (NYSE:NEM) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,529 shares of the basic materials company’s stock after selling 1,429 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Newmont were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its stake in Newmont by 49.3% in the third quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company’s stock worth $3,129,000 after purchasing an additional 19,321 shares during the last quarter. FMR LLC grew its position in Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Townsquare Capital LLC grew its position in Newmont by 117.7% in the 3rd quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company’s stock valued at $1,245,000 after acquiring an additional 12,596 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Newmont by 8.0% during the third quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company’s stock worth $1,584,000 after purchasing an additional 2,199 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Newmont by 11.1% during the third quarter. Public Sector Pension Investment Board now owns 49,238 shares of the basic materials company’s stock valued at $2,632,000 after purchasing an additional 4,900 shares during the period. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the firm’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 $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on NEM shares. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. TD Securities lowered their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Stock Performance

Shares of Newmont stock opened at $48.06 on Friday. The firm has a market capitalization of $54.17 billion, a P/E ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $36.10 and a 52 week high of $58.72. 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 50 day moving average price of $44.78 and a 200 day moving average price of $45.50.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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 analyst estimates of $5.32 billion. Sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Newmont’s dividend payout ratio is currently 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.