Newmont Co. (NYSE:NEM) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC lowered its stake in Newmont Co. (NYSE:NEM) by 29.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 69,366 shares of the basic materials company’s stock after selling 29,569 shares during the quarter. Channing Capital Management LLC’s holdings in Newmont were worth $2,871,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in Newmont by 18.3% in the 3rd quarter. Raymond James & Associates now owns 530,565 shares of the basic materials company’s stock valued at $19,604,000 after buying an additional 82,115 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Newmont by 1.9% during the third quarter. Brown Advisory Inc. now owns 75,132 shares of the basic materials company’s stock worth $2,776,000 after purchasing an additional 1,417 shares in the last quarter. Forsta AP Fonden raised its stake in Newmont by 3.7% in the 3rd quarter. Forsta AP Fonden now owns 184,400 shares of the basic materials company’s stock valued at $6,814,000 after purchasing an additional 6,600 shares during the last quarter. Concord Wealth Partners raised its stake in Newmont by 83.9% in the 3rd quarter. Concord Wealth Partners now owns 6,024 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 2,749 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its stake in Newmont by 20.6% during the 3rd quarter. AMF Tjanstepension AB now owns 438,688 shares of the basic materials company’s stock worth $16,224,000 after purchasing an additional 74,910 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NEM shares. Royal Bank of Canada decreased their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Citigroup dropped their price target on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Jefferies Financial Group initiated coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. Finally, StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.35.

Newmont Trading Up 1.5 %

Newmont stock traded up $0.63 during trading on Monday, hitting $41.29. The company had a trading volume of 5,733,127 shares, compared to its average volume of 13,532,488. The stock has a market cap of $47.61 billion, a price-to-earnings ratio of -15.46, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $49.08. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The company’s 50 day simple moving average is $36.40 and its 200-day simple moving average is $36.97.

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 negative net margin of 20.19% and a positive return on equity of 6.88%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. As a group, analysts expect that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

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.