Snowden Capital Advisors LLC Lowers Stake in Newmont Co. (NYSE:NEM)

Snowden Capital Advisors LLC decreased its position in Newmont Co. (NYSE:NEM - Free Report) by 50.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,451 shares of the basic materials company's stock after selling 5,637 shares during the period. Snowden Capital Advisors LLC's holdings in Newmont were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Merit Financial Group LLC purchased a new position in Newmont in the fourth quarter valued at $304,000. Nisa Investment Advisors LLC grew its position in shares of Newmont by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 119,987 shares of the basic materials company's stock valued at $4,466,000 after purchasing an additional 520 shares during the period. Avior Wealth Management LLC grew its position in shares of Newmont by 288.1% in the fourth quarter. Avior Wealth Management LLC now owns 1,925 shares of the basic materials company's stock valued at $72,000 after purchasing an additional 1,429 shares during the period. Secure Asset Management LLC grew its position in shares of Newmont by 14.5% in the fourth quarter. Secure Asset Management LLC now owns 35,678 shares of the basic materials company's stock valued at $1,328,000 after purchasing an additional 4,522 shares during the period. Finally, Hedges Asset Management LLC grew its position in shares of Newmont by 25.6% in the fourth quarter. Hedges Asset Management LLC now owns 22,450 shares of the basic materials company's stock valued at $836,000 after purchasing an additional 4,571 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now directly owns 47,257 shares of the company's stock, valued at $2,432,790.36. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade 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 valued at $328,840 in the last ninety days. Insiders own 0.05% of the company's stock.

Newmont Stock Down 0.5%

Shares of NEM traded down $0.25 during midday trading on Thursday, reaching $52.60. The stock had a trading volume of 3,253,233 shares, compared to its average volume of 10,098,671. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The company's fifty day simple moving average is $51.29 and its two-hundred day simple moving average is $45.38. The company has a market cap of $58.55 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the business earned $0.55 EPS. Equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Argus set a $63.00 target price on shares of Newmont in a research report on Friday, April 25th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Finally, Raymond James reissued an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $56.52.

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.