Twinbeech Capital LP Decreases Position in Newmont Co. (NYSE:NEM)

Twinbeech Capital LP decreased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 97.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,774 shares of the basic materials company's stock after selling 434,212 shares during the quarter. Twinbeech Capital LP's holdings in Newmont were worth $438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NEM. HHM Wealth Advisors LLC increased its holdings in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Redwood Park Advisors LLC bought a new stake in shares of Newmont in the 4th quarter worth $37,000. Promus Capital LLC bought a new stake in shares of Newmont in the 4th quarter worth $38,000. Kestra Investment Management LLC bought a new stake in shares of Newmont in the 4th quarter worth $43,000. Finally, Assetmark Inc. increased its holdings in shares of Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after purchasing an additional 820 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NYSE:NEM traded down $0.10 during mid-day trading on Wednesday, hitting $52.62. 2,353,546 shares of the company traded hands, compared to its average volume of 10,094,631. The stock's fifty day moving average price is $51.17 and its 200-day moving average price is $45.33. Newmont Co. has a one year low of $36.86 and a one year high of $58.72. The firm has a market cap of $58.56 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business earned $0.55 earnings per share. Research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on NEM. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Royal Bank of Canada lifted their price objective on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. Finally, UBS Group raised Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. 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 stock. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $56.52.

Insider Activity

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 value of $90,785.67. Following the sale, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 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 value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock worth $328,840 over the last ninety days. 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.