Focus Partners Wealth Sells 27,791 Shares of Newmont Co. (NYSE:NEM)

Focus Partners Wealth trimmed its position in Newmont Co. (NYSE:NEM - Free Report) by 76.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,767 shares of the basic materials company's stock after selling 27,791 shares during the quarter. Focus Partners Wealth's holdings in Newmont were worth $326,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NEM. Norges Bank acquired a new position in shares of Newmont in the fourth quarter valued at $626,074,000. Capital Research Global Investors grew its position in Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after acquiring an additional 2,338,953 shares during the period. Renaissance Technologies LLC bought a new stake in Newmont in the fourth quarter valued at $76,281,000. Invesco Ltd. grew its position in 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 acquiring an additional 2,028,150 shares during the period. Finally, Allianz SE bought a new stake in Newmont in the fourth quarter valued at $65,385,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. Raymond James restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Finally, UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and increased their target price for the stock from $50.00 to $60.00 in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus price target of $56.52.

Newmont Trading Down 1.7%

Newmont stock traded down $0.92 during mid-day trading on Tuesday, hitting $52.73. The stock had a trading volume of 10,617,915 shares, compared to its average volume of 10,124,423. The stock has a 50-day simple moving average of $51.17 and a two-hundred day simple moving average of $45.33. The stock has a market capitalization of $58.69 billion, a PE ratio of 18.00, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72. 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 (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, sell-side analysts forecast 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is currently owned by company 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.