Nuveen Asset Management LLC Sells 1,269,275 Shares of Newmont Co. (NYSE:NEM)

Nuveen Asset Management LLC trimmed its stake in Newmont Co. (NYSE:NEM - Free Report) by 13.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,396,444 shares of the basic materials company's stock after selling 1,269,275 shares during the period. Nuveen Asset Management LLC owned approximately 0.74% of Newmont worth $312,516,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NEM. HHM Wealth Advisors LLC lifted its holdings in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Redwood Park Advisors LLC bought a new stake in Newmont in the fourth quarter worth about $37,000. Promus Capital LLC bought a new stake in Newmont in the fourth quarter worth about $38,000. Kestra Investment Management LLC bought a new stake in Newmont in the fourth quarter worth about $43,000. Finally, Assetmark Inc. lifted its stake in 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 purchasing an additional 820 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the company'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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated 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 in the company, valued at $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. Over the last ninety days, insiders sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of NYSE:NEM opened at $48.58 on Thursday. The company has a market capitalization of $54.07 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $50.05 and a 200 day moving average of $44.96.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly 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 firm had revenue of $5.01 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $0.55 EPS. On average, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. Newmont's dividend payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NEM shares. Raymond James reissued an "outperform" rating and set a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.63.

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.

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