MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Position in Newmont Co. (NYSE:NEM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in shares of Newmont Co. (NYSE:NEM) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,367 shares of the basic materials company’s stock after selling 108,310 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Newmont were worth $11,924,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NEM. Brookstone Capital Management purchased a new position in Newmont during the 4th quarter valued at $245,000. Miracle Mile Advisors LLC purchased a new position in Newmont during the 4th quarter valued at $275,000. Hennion & Walsh Asset Management Inc. increased its position in Newmont by 121.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 15,175 shares of the basic materials company’s stock valued at $565,000 after purchasing an additional 8,315 shares during the period. Procyon Advisors LLC increased its position in Newmont by 14.1% during the 4th quarter. Procyon Advisors LLC now owns 14,064 shares of the basic materials company’s stock valued at $523,000 after purchasing an additional 1,734 shares during the period. Finally, Avanza Fonder AB purchased a new position in Newmont during the 4th quarter valued at $4,269,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’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 transaction of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now owns 47,257 shares in the company, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,154 shares of company stock worth $328,840. Company insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEM. Cfra Research raised shares of Newmont to a “strong-buy” rating in a research report on Friday, April 25th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Newmont in a research report on Thursday, April 24th. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Finally, UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $56.52.

Newmont Price Performance

NEM opened at $50.09 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market capitalization of $55.75 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.41 and a beta of 0.31. The company’s 50-day simple moving average is $50.33 and its two-hundred day simple moving average is $44.98. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio is currently 22.42%.

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.