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

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

A number of other hedge funds have also recently added to or reduced their stakes in NEM. Norges Bank acquired a new stake in Newmont in the fourth quarter valued at approximately $626,074,000. Capital Research Global Investors boosted 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 buying an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Newmont during the fourth quarter worth $76,281,000. Invesco Ltd. lifted its holdings in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the period. Finally, Allianz SE acquired a new position in shares of Newmont during the fourth quarter worth $65,385,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company'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 $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares of the company's stock, valued at $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $328,840 over the last three months. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Down 1.2%

Shares of NYSE:NEM traded down $0.63 during midday trading on Tuesday, hitting $52.77. 1,717,191 shares of the company's stock were exchanged, compared to its average volume of 11,888,834. 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 stock has a 50 day moving average price of $51.07 and a 200-day moving average price of $45.27. The company has a market cap of $58.73 billion, a PE ratio of 18.01, a price-to-earnings-growth 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.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during 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 previous year, the firm posted $0.55 earnings per share. On average, sell-side analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of Newmont from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.52.

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.