Becker Capital Management Inc. Decreases Stake in Newmont Co. (NYSE:NEM)

Becker Capital Management Inc. trimmed its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 610,658 shares of the basic materials company's stock after selling 8,521 shares during the period. Becker Capital Management Inc. owned approximately 0.05% of Newmont worth $22,729,000 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 boosted its holdings in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Redwood Park Advisors LLC purchased a new stake in Newmont during the 4th quarter valued at $37,000. Promus Capital LLC bought a new position in Newmont in the fourth quarter valued at about $38,000. McIlrath & Eck LLC lifted its stake in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after purchasing an additional 361 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Newmont in the fourth quarter worth approximately $43,000. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

NEM has been the subject of a number of recent research reports. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Newmont has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the transaction, the chief operating officer now owns 136,967 shares of the company's stock, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now owns 49,993 shares in the company, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. Insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NYSE NEM traded up $0.01 during trading on Friday, hitting $51.50. The company had a trading volume of 8,802,796 shares, compared to its average volume of 9,842,351. The firm has a market capitalization of $58.05 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The stock has a fifty day simple moving average of $48.42 and a two-hundred day simple moving average of $45.15. 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 posted 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. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period in the prior year, the company earned $0.55 EPS. On average, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. Newmont's dividend payout ratio is presently 22.42%.

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.