Cetera Investment Advisers Sells 85,307 Shares of Newmont Co. (NYSE:NEM)

Cetera Investment Advisers lessened its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 38.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,066 shares of the basic materials company's stock after selling 85,307 shares during the quarter. Cetera Investment Advisers' holdings in Newmont were worth $5,027,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NEM. Norges Bank bought a new position in shares of Newmont in the 4th quarter worth $626,074,000. Capital Research Global Investors raised its holdings in Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after buying an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Newmont in the fourth quarter valued at $76,281,000. Invesco Ltd. lifted its stake in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Finally, Allianz SE acquired a new position in shares of Newmont during the fourth quarter valued at about $65,385,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NEM. Raymond James reaffirmed an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Royal Bank of Canada raised their price objective on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the transaction, the director now directly owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,154 shares of company stock worth $328,840. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Performance

Shares of NEM traded up $1.16 during mid-day trading on Thursday, hitting $49.82. The stock had a trading volume of 13,668,953 shares, compared to its average volume of 10,045,671. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business has a fifty day moving average price of $50.05 and a 200-day moving average price of $44.96. The firm has a market cap of $55.45 billion, a P/E ratio of 17.00, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 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 the consensus estimate 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 firm earned $0.55 earnings per share. On average, equities research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, May 27th. 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.