Ipswich Investment Management Co. Inc. Has $524,000 Stock Position in Newmont Co. (NYSE:NEM)

Ipswich Investment Management Co. Inc. reduced its stake in shares of Newmont Co. (NYSE:NEM) by 45.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,069 shares of the basic materials company’s stock after selling 11,770 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Newmont were worth $524,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Waverton Investment Management Ltd raised its holdings in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares during the period. Sanctuary Advisors LLC raised its holdings in Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the period. Nordea Investment Management AB grew its stake in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after acquiring an additional 865,213 shares in the last quarter. Finally, Red Cedar Investment Management LLC bought a new position in shares of Newmont during the 3rd quarter worth approximately $1,263,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.37.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 5.9 %

Shares of Newmont stock opened at $45.25 on Friday. The business has a fifty day simple moving average of $41.56 and a two-hundred day simple moving average of $46.46. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market capitalization of $51.52 billion, a price-to-earnings ratio of -29.77, a P/E/G ratio of 0.40 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Research analysts forecast that Newmont Co. will post 3.11 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is currently -65.79%.

Newmont Profile

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.