Baird Financial Group Inc. Has $16.72 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Baird Financial Group Inc. lowered its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 449,277 shares of the basic materials company's stock after selling 132,990 shares during the period. Baird Financial Group Inc.'s holdings in Newmont were worth $16,722,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NEM. HHM Wealth Advisors LLC boosted its stake in 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. Redwood Park Advisors LLC bought a new position in shares of Newmont during the 4th quarter worth about $37,000. Promus Capital LLC acquired a new stake in shares of Newmont in the 4th quarter valued at about $38,000. Kestra Investment Management LLC bought a new stake in Newmont in the 4th quarter valued at about $43,000. Finally, Assetmark Inc. raised its stake in Newmont by 185.9% during the 4th 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 period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Newmont stock opened at $54.72 on Wednesday. The stock has a market cap of $60.90 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.30. 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 fifty-two week low of $36.86 and a fifty-two week high of $58.72. The firm's fifty day moving average price is $49.03 and its 200-day moving average price is $45.00.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the business posted $0.55 EPS. On average, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Newmont's dividend payout ratio (DPR) is currently 22.42%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Raymond James restated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Argus set a $63.00 price objective on shares of Newmont in a report on Friday, April 25th. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $55.63.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the 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 $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is currently owned by insiders.

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.

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