Douglass Winthrop Advisors LLC increased its stake in shares of Newmont Co. (NYSE:NEM) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,950 shares of the basic materials company’s stock after purchasing an additional 750 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Newmont were worth $703,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TFO TDC LLC bought a new position in shares of Newmont during the 3rd quarter valued at approximately $27,000. HighMark Wealth Management LLC bought a new position in shares of Newmont during the 3rd quarter valued at approximately $29,000. Global Retirement Partners LLC increased its position in shares of Newmont by 52.7% during the 3rd quarter. Global Retirement Partners LLC now owns 556 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 192 shares during the last quarter. Strategic Blueprint LLC bought a new position in Newmont in the 2nd quarter valued at $37,000. Finally, Arlington Partners LLC bought a new position in Newmont in the 3rd quarter valued at $32,000. 76.46% of the stock is currently owned by hedge funds and other institutional investors.
Newmont stock traded down $0.35 during midday trading on Friday, reaching $60.97. The company’s stock had a trading volume of 115,575 shares, compared to its average volume of 6,080,447. The stock’s 50-day simple moving average is $57.88 and its 200-day simple moving average is $58.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.67 and a quick ratio of 2.31. Newmont Co. has a 52-week low of $52.60 and a 52-week high of $75.31. The stock has a market capitalization of $48.62 billion, a P/E ratio of 24.24 and a beta of 0.28.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 28th. Investors of record on Thursday, December 9th were issued a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, December 8th. This represents a $2.20 annualized dividend and a yield of 3.61%. Newmont’s dividend payout ratio (DPR) is presently 86.96%.
In other Newmont news, EVP Stephen P. Gottesfeld sold 4,000 shares of Newmont stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $55.61, for a total transaction of $222,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Blake Rhodes sold 500 shares of Newmont stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $55.23, for a total transaction of $27,615.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock valued at $1,273,345 over the last three months. 0.12% of the stock is currently owned by insiders.
Several equities analysts have commented on the company. National Bank Financial upped their price objective on Newmont from C$92.00 to C$98.00 in a research report on Friday, January 7th. upped their price objective on Newmont to $62.00 and gave the company a “buy” rating in a research report on Thursday, December 9th. TD Securities cut their price objective on Newmont from $65.00 to $64.00 and set a “hold” rating on the stock in a research report on Monday, December 6th. National Bankshares cut their price objective on Newmont from C$95.00 to C$92.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 24th. Finally, Raymond James cut their price objective on Newmont from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Hold” and an average price target of $69.60.
Newmont Company Profile
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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