CoreCap Advisors LLC Reduces Holdings in Newmont Co. (NYSE:NEM)

CoreCap Advisors LLC lowered its stake in shares of Newmont Co. (NYSE:NEM) by 31.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,836 shares of the basic materials company’s stock after selling 12,161 shares during the period. CoreCap Advisors LLC’s holdings in Newmont were worth $999,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC grew its stake in Newmont by 22.8% in the fourth quarter. ORG Partners LLC now owns 26,644 shares of the basic materials company’s stock worth $992,000 after purchasing an additional 4,948 shares during the period. Hilltop National Bank boosted its holdings in shares of Newmont by 80.1% during the 4th quarter. Hilltop National Bank now owns 25,259 shares of the basic materials company’s stock valued at $940,000 after buying an additional 11,234 shares in the last quarter. Czech National Bank increased its stake in shares of Newmont by 5.6% in the 4th quarter. Czech National Bank now owns 246,839 shares of the basic materials company’s stock worth $9,187,000 after acquiring an additional 13,096 shares in the last quarter. Brookstone Capital Management purchased a new position in Newmont during the 4th quarter valued at about $245,000. Finally, Moody National Bank Trust Division lifted its position in Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 2,645 shares during the period. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Cfra Research raised Newmont to a “strong-buy” rating in a report on Friday, April 25th. Scotiabank restated a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Newmont in a research note on Wednesday, April 23rd. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $55.63.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,154 shares of company stock valued at $328,840. Company insiders own 0.05% of the company’s stock.

Newmont Trading Down 2.1 %

Shares of NYSE:NEM opened at $52.84 on Friday. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72. The stock has a market capitalization of $58.81 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 0.41 and a beta of 0.31. 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’s 50-day simple moving average is $49.47 and its two-hundred day simple moving average is $45.03.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company earned $0.55 earnings per share. Analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given 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 1.89%. Newmont’s dividend payout ratio (DPR) is presently 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.