Newmont Co. (NYSE:NEM) Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc reduced its position in shares of Newmont Co. (NYSE:NEM) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,849 shares of the basic materials company’s stock after selling 9,161 shares during the period. Stack Financial Management Inc’s holdings in Newmont were worth $12,494,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. lifted its stake in Newmont by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after acquiring an additional 12,360,775 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Newmont by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after purchasing an additional 483,377 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Newmont by 5.7% in the 3rd quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock worth $381,203,000 after buying an additional 554,513 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Newmont by 5.8% in the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock worth $289,232,000 after purchasing an additional 428,537 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Newmont by 0.5% in the third quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company’s stock valued at $239,205,000 after purchasing an additional 34,651 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEM shares. Citigroup lowered their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. TD Securities lifted their price objective on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Newmont currently has an average rating of “Hold” and an average price target of $51.75.

Newmont Stock Down 0.9 %

NYSE NEM traded down $0.41 on Friday, reaching $43.00. 7,665,420 shares of the stock traded hands, compared to its average volume of 13,708,907. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The company has a fifty day moving average price of $35.35 and a 200-day moving average price of $36.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market cap of $49.57 billion, a price-to-earnings ratio of -17.88, a PEG ratio of 1.07 and a beta of 0.50.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. Newmont’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. As a group, research analysts forecast that Newmont Co. will post 1.99 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -42.02%.

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.