Newmont Co. (NYSE:NEM) Holdings Lowered by Foundation Resource Management Inc.

Foundation Resource Management Inc. decreased its holdings in Newmont Co. (NYSE:NEM) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 702,042 shares of the basic materials company’s stock after selling 3,668 shares during the quarter. Newmont comprises 4.4% of Foundation Resource Management Inc.’s portfolio, making the stock its 7th biggest holding. Foundation Resource Management Inc.’s holdings in Newmont were worth $26,130,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Zurich Insurance Group Ltd FI bought a new position in Newmont in the 3rd quarter worth approximately $98,011,000. Nordea Investment Management AB lifted its holdings in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares in the last quarter. FMR LLC boosted its position in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Newmont by 262.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after acquiring an additional 1,096,905 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Newmont by 29.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock valued at $197,976,000 after acquiring an additional 1,074,623 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and cut their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group upped their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Newmont Stock Performance

Newmont stock opened at $40.19 on Wednesday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. 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 firm has a market capitalization of $45.75 billion, a P/E ratio of -26.44, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. The company’s 50-day moving average is $40.49 and its 200 day moving average is $46.90.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. Research analysts forecast that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

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.