Newmont Co. (NYSE:NEM) Stock Position Reduced by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its stake in Newmont Co. (NYSE:NEM) by 78.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 385,953 shares of the basic materials company’s stock after selling 1,418,123 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Newmont were worth $14,356,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. HHM Wealth Advisors LLC raised its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of Newmont during the 4th quarter worth about $38,000. McIlrath & Eck LLC lifted its holdings in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Newmont in the 4th quarter valued at approximately $43,000. Finally, Assetmark Inc. increased its holdings in Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after buying an additional 820 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several recent research reports. Raymond James boosted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada increased their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Finally, National Bank Financial upgraded Newmont to a “hold” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.09.

Newmont Stock Down 8.4 %

NEM stock opened at $44.25 on Friday. The business’s 50-day simple moving average is $45.34 and its 200 day simple moving average is $45.33. 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 market cap of $49.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72.

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, topping the consensus estimate of $1.11 by $0.29. The company 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, research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’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 sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the 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 owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 over the last quarter. 0.05% of the stock is owned by company insiders.

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.