B. Metzler seel. Sohn & Co. AG Cuts Stake in Newmont Co. (NYSE:NEM)

B. Metzler seel. Sohn & Co. AG trimmed its stake in Newmont Co. (NYSE:NEM) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,737 shares of the basic materials company’s stock after selling 16,623 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Newmont were worth $3,749,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sanctuary Advisors LLC raised its holdings in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB increased its position in 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 purchasing an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings 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 valued at $88,580,000 after buying an additional 865,213 shares during the period. Brookstone Capital Management acquired a new position in Newmont during the fourth quarter valued at approximately $245,000. Finally, Moody National Bank Trust Division grew its stake in Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after buying an additional 2,645 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Securities cut their target price 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. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Performance

Shares of Newmont stock opened at $48.29 on Wednesday. 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 Co. has a 1 year low of $36.44 and a 1 year high of $58.72. The firm’s 50-day simple moving average is $45.03 and its 200-day simple moving average is $45.35. The firm has a market cap of $54.44 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

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 the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities analysts forecast 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 was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 over the last 90 days. Insiders own 0.05% of the company’s stock.

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.