Beacon Pointe Advisors LLC Sells 10,270 Shares of Newmont Co. (NYSE:NEM)

Beacon Pointe Advisors LLC decreased its position in Newmont Co. (NYSE:NEM - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,040 shares of the basic materials company's stock after selling 10,270 shares during the period. Beacon Pointe Advisors LLC's holdings in Newmont were worth $5,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Newmont by 173.0% in 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 buying an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock worth $88,580,000 after acquiring an additional 865,213 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Newmont in the fourth quarter worth $245,000. Moody National Bank Trust Division grew its position in shares of Newmont by 13.6% in the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after purchasing an additional 2,645 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Newmont during the 4th quarter valued at $4,269,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 0.0 %

Shares of NEM traded up $0.01 during mid-day trading on Friday, reaching $51.50. The company's stock had a trading volume of 8,802,796 shares, compared to its average volume of 9,852,541. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The company's fifty day moving average price is $48.59 and its two-hundred day moving average price is $44.96. The stock has a market cap of $57.32 billion, a PE ratio of 17.58, a P/E/G ratio of 0.41 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the prior year, the business posted $0.55 earnings per share. On average, analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.94%. Newmont's payout ratio is 22.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 target price on the stock. National Bankshares reissued a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.63.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated 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 owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now owns 136,967 shares of the company's stock, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 in the last ninety days. Company insiders own 0.05% of the company's stock.

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.