Kovitz Investment Group Partners LLC Trims Holdings in Newmont Co. (NYSE:NEM)

Kovitz Investment Group Partners LLC lowered its holdings in Newmont Co. (NYSE:NEM - Free Report) by 78.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,483 shares of the basic materials company's stock after selling 71,299 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Newmont were worth $725,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Norges Bank acquired a new position in shares of Newmont in the 4th quarter valued at $626,074,000. Capital Research Global Investors grew its position in shares of Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after purchasing an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Newmont during the 4th quarter worth about $76,281,000. Invesco Ltd. lifted its stake in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares during the period. Finally, Allianz SE acquired a new stake in shares of Newmont during the fourth quarter worth $65,385,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the sale, the chief operating officer now owns 136,967 shares of the company's stock, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,154 shares of company stock worth $825,678 in the last quarter. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price target for the company. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and increased their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. Finally, Raymond James reaffirmed an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.63.

Newmont Price Performance

Newmont stock traded down $1.19 during mid-day trading on Thursday, reaching $51.49. The company had a trading volume of 12,411,384 shares, compared to its average volume of 9,839,787. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market cap of $58.04 billion, a P/E ratio of 17.57, a P/E/G 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 business has a fifty day simple moving average of $48.27 and a 200 day simple moving average of $45.17.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results 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 company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders 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 yield of 1.94%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

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.