Newmont Co. (NYSE:NEM) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. reduced its stake in shares of Newmont Co. (NYSE:NEM) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,260 shares of the basic materials company’s stock after selling 2,335 shares during the period. Baxter Bros Inc.’s holdings in Newmont were worth $797,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in Newmont by 27.5% during the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after acquiring an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Newmont by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after acquiring an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Newmont by 13.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after acquiring an additional 94,692 shares in the last quarter. KLCM Advisors Inc. lifted its position in shares of Newmont by 4.3% in the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock worth $17,708,000 after buying an additional 17,791 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Newmont by 70.5% in the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock worth $3,535,000 after buying an additional 35,303 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE:NEM traded down $0.39 during trading on Friday, reaching $40.66. The company had a trading volume of 7,306,324 shares, compared to its average volume of 14,411,746. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The firm has a market capitalization of $46.89 billion, a PE ratio of -15.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. The firm’s fifty day moving average is $36.40 and its 200 day moving average is $37.02.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, equities analysts forecast that Newmont Co. will post 2.32 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

Analyst Ratings Changes

A number of research firms have recently issued reports on NEM. Citigroup reduced their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. BMO Capital Markets reduced their price objective on Newmont from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank of Canada dropped their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. TD Securities boosted their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.35.

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.