Newmont Co. (NYSE:NEM) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC lowered its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,468 shares of the basic materials company's stock after selling 7,809 shares during the period. Laird Norton Wetherby Wealth Management LLC's holdings in Newmont were worth $799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. Norges Bank acquired a new position in shares of Newmont during the fourth quarter worth $626,074,000. Capital Research Global Investors grew its stake in shares of Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after purchasing an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Newmont during the fourth quarter worth $76,281,000. Invesco Ltd. grew 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 worth $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Finally, Allianz SE acquired a new position 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

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the transaction, the director now directly owns 47,257 shares of the company's stock, valued at $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the 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 transaction, the executive vice president now directly owns 86,526 shares of the company's stock, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $328,840 over the last ninety days. Corporate insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $48.58 on Thursday. The company has a 50-day simple moving average of $50.05 and a 200-day simple moving average of $44.96. Newmont Co. has a one year low of $36.86 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market capitalization of $54.07 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly 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 analysts' expectations 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 prior year, the company posted $0.55 earnings per share. On average, analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors 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 yield of 2.06%. Newmont's dividend payout ratio is currently 22.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Argus set a $63.00 price objective on shares of Newmont in a research note on Friday, April 25th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Finally, National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

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.

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