Newmont Co. (NYSE:NEM) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lessened its holdings in Newmont Co. (NYSE:NEM) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,031 shares of the basic materials company’s stock after selling 2,387 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Newmont were worth $1,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Van ECK Associates Corp raised its position in Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the period. Geode Capital Management LLC raised its holdings in shares of Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after buying an additional 1,213,397 shares during the period. Norges Bank purchased a new stake in shares of Newmont during the 4th quarter valued at about $626,074,000. Northern Trust Corp lifted its position in Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock worth $474,263,000 after acquiring an additional 1,309,177 shares in the last quarter. Finally, Amundi boosted its holdings in Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now directly owns 47,257 shares in the company, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president now owns 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 over the last ninety days. Company insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NEM. Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, April 25th. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Royal Bank of Canada boosted their price objective on shares of Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. National Bankshares reissued a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Finally, Scotiabank restated a “sector perform” rating on shares of Newmont in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.68.

Newmont Price Performance

Shares of NYSE NEM opened at $52.36 on Monday. The company has a market capitalization of $58.28 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The business has a 50 day simple moving average of $52.16 and a 200-day simple moving average of $46.01. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping 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 company had revenue of $5.01 billion for 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. As a group, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm 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 is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. Newmont’s dividend payout ratio is currently 22.42%.

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.