Newmont Co. (NYSE:NEM) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,963 shares of the basic materials company's stock after selling 115,369 shares during the quarter. ProShare Advisors LLC's holdings in Newmont were worth $8,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after acquiring an additional 797,445 shares during the period. Geode Capital Management LLC increased its position in shares of Newmont by 5.2% during the fourth 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 Newmont in the fourth quarter valued at $626,074,000. Northern Trust Corp grew its holdings in shares of Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares during the last quarter. Finally, Amundi raised 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 buying an additional 1,507,708 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company's stock, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15% 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 worth $328,840 over the last 90 days. Corporate insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NYSE NEM traded up $1.42 during trading hours on Tuesday, reaching $52.35. 10,585,794 shares of the stock traded hands, compared to its average volume of 10,084,917. The company has a market capitalization of $58.27 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The company's 50-day simple moving average is $50.61 and its two-hundred day simple moving average is $45.05. 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 Co. has a 52-week low of $36.86 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the prior year, the company earned $0.55 EPS. Equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. Newmont's payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Finally, UBS Group raised Newmont from a "neutral" rating to a "buy" rating and raised their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average price target of $56.52.

About Newmont

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.