International Assets Investment Management LLC Lowers Stock Position in Newmont Co. (NYSE:NEM)

International Assets Investment Management LLC trimmed its stake in Newmont Co. (NYSE:NEM) by 98.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,706 shares of the basic materials company’s stock after selling 961,215 shares during the period. International Assets Investment Management LLC’s holdings in Newmont were worth $718,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Heathbridge Capital Management Ltd. lifted its stake in Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after acquiring an additional 200 shares in the last quarter. Fulton Bank N.A. lifted its stake in Newmont by 1.5% during the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 221 shares in the last quarter. Carmel Capital Partners LLC boosted its holdings in Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares during the period. Finally, Good Life Advisors LLC increased its stake in Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on NEM. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $59.00 to $55.00 in a report on Friday, October 25th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Newmont Stock Up 2.4 %

NEM opened at $39.07 on Friday. The stock has a market capitalization of $44.48 billion, a P/E ratio of -25.70, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The business’s 50-day simple moving average is $40.86 and its 200-day simple moving average is $46.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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). The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is currently -65.79%.

Insider Buying and Selling at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company 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.