Beacon Pointe Advisors LLC Sells 10,270 Shares of Newmont Co. (NYSE:NEM)

Beacon Pointe Advisors LLC reduced its stake in Newmont Co. (NYSE:NEM) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,040 shares of the basic materials company’s stock after selling 10,270 shares during the period. Beacon Pointe Advisors LLC’s holdings in Newmont were worth $5,436,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Newmont during the fourth quarter worth about $626,074,000. Capital Research Global Investors boosted its stake in Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Newmont during the fourth quarter valued at approximately $76,281,000. Invesco Ltd. increased its stake in Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Finally, Allianz SE acquired a new stake in Newmont in the fourth quarter worth $65,385,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE NEM opened at $52.95 on Wednesday. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The stock has a market capitalization of $59.69 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business has a 50-day moving average of $48.12 and a 200-day moving average of $45.12.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for 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 quarter in the previous year, the firm earned $0.55 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 22.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday, April 4th. Cfra Research upgraded Newmont to a “strong-buy” rating in a report on Friday, April 25th. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research report on Thursday, April 24th. Finally, National Bankshares restated a “sector perform” rating on shares of Newmont in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $55.63.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 over the last quarter. 0.05% of the stock is currently owned by insiders.

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.