Ion Asset Management Ltd. Has $223,000 Stake in Newmont Co. (NYSE:NEM)

Ion Asset Management Ltd. reduced its holdings in Newmont Co. (NYSE:NEM) by 39.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the basic materials company’s stock after selling 3,900 shares during the period. Ion Asset Management Ltd.’s holdings in Newmont were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Redwood Park Advisors LLC bought a new position in Newmont during the fourth quarter worth about $37,000. Promus Capital LLC acquired a new position in shares of Newmont during the 4th quarter worth about $38,000. McIlrath & Eck LLC increased its stake in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in Newmont during the 4th quarter worth approximately $43,000. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. 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 report on Friday, April 4th. Argus set a $63.00 price objective on Newmont in a research note on Friday. National Bankshares reissued a “sector perform” rating on shares of Newmont in a research note on Wednesday, April 23rd. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.63.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the 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 transaction, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. This represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 over the last quarter. Company insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $54.05 on Tuesday. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The company has a market cap of $60.93 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The business’s 50 day moving average price is $48.02 and its two-hundred day moving average price is $45.07. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business earned $0.55 EPS. On average, analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.85%. Newmont’s dividend payout ratio (DPR) is presently 22.42%.

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.