Newmont Co. (NYSE:NEM) Shares Sold by Game Creek Capital LP

Game Creek Capital LP trimmed its holdings in Newmont Co. (NYSE:NEM - Free Report) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,000 shares of the basic materials company's stock after selling 5,375 shares during the period. Newmont accounts for about 0.9% of Game Creek Capital LP's holdings, making the stock its 29th biggest holding. Game Creek Capital LP's holdings in Newmont were worth $2,308,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after buying an additional 350 shares during the period. Redwood Park Advisors LLC acquired a new stake in shares of Newmont during the fourth quarter worth about $37,000. Promus Capital LLC acquired a new position in shares of Newmont in the fourth quarter worth $38,000. Kestra Investment Management LLC acquired a new position in shares of Newmont in the fourth quarter worth $43,000. Finally, Assetmark Inc. grew its stake in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after acquiring an additional 820 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. Royal Bank of Canada increased their target price on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research report on Friday, April 4th. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.63.

Newmont Price Performance

Shares of NYSE NEM traded down $3.18 during trading on Monday, hitting $50.80. 19,093,105 shares of the company were exchanged, compared to its average volume of 9,945,495. The company has a market cap of $56.54 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The firm's fifty day moving average price is $49.69 and its 200 day moving average price is $44.88. 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 issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the previous year, the firm earned $0.55 EPS. On average, sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. Newmont's dividend payout ratio is presently 22.42%.

Insider Buying and Selling at Newmont

In other news, 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 transaction of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,154 shares of company stock worth $328,840. Corporate insiders own 0.05% of the company's stock.

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.