Lmcg Investments LLC Cuts Stock Holdings in Newmont Co. (NYSE:NEM)

Lmcg Investments LLC lowered its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 19.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,930 shares of the basic materials company's stock after selling 35,619 shares during the period. Lmcg Investments LLC's holdings in Newmont were worth $6,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC lifted its position in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank purchased a new position in shares of Newmont in the 4th quarter valued at approximately $626,074,000. Northern Trust Corp increased its holdings in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the period. Finally, Amundi increased its holdings in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Newmont stock traded down $2.15 during trading hours on Friday, hitting $52.36. The stock had a trading volume of 13,344,110 shares, compared to its average volume of 10,232,454. 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's fifty day moving average is $52.08 and its two-hundred day moving average is $45.91. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The stock has a market capitalization of $58.28 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results 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. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business earned $0.55 earnings per share. As a group, analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. Newmont's dividend payout ratio (DPR) is 22.42%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NEM shares. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Raymond James reaffirmed an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.68.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the sale, the director now directly owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

Newmont Company 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.