Dudley Capital Management LLC Sells 3,775 Shares of Newmont Co. (NYSE:NEM)

Dudley Capital Management LLC lowered its stake in shares of Newmont Co. (NYSE:NEM) by 21.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,003 shares of the basic materials company’s stock after selling 3,775 shares during the quarter. Dudley Capital Management LLC’s holdings in Newmont were worth $521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEM. Minneapolis Portfolio Management Group LLC increased its position in Newmont by 0.5% during the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 676,076 shares of the basic materials company’s stock valued at $25,164,000 after acquiring an additional 3,317 shares during the last quarter. Sound Shore Management Inc. CT lifted its position in shares of Newmont by 59.8% during the fourth quarter. Sound Shore Management Inc. CT now owns 266,940 shares of the basic materials company’s stock worth $9,936,000 after purchasing an additional 99,910 shares during the last quarter. Syntax Research Inc. boosted its position in Newmont by 110.3% in the 4th quarter. Syntax Research Inc. now owns 72,125 shares of the basic materials company’s stock valued at $2,684,000 after buying an additional 37,833 shares during the period. Angeles Investment Advisors LLC boosted its holdings in shares of Newmont by 13.6% in the fourth quarter. Angeles Investment Advisors LLC now owns 14,631 shares of the basic materials company’s stock valued at $545,000 after purchasing an additional 1,754 shares during the period. Finally, Crowley Wealth Management Inc. bought a new position in Newmont in the fourth quarter worth approximately $122,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.2 %

Shares of NYSE NEM opened at $46.81 on Tuesday. The stock has a market cap of $52.76 billion, a PE ratio of 15.97, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $33.86 and a 12-month high of $58.72. The company has a 50-day moving average of $44.25 and a 200 day moving average of $45.50.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, sell-side analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NEM shares. Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. CLSA assumed coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 in the last 90 days. Insiders own 0.06% of the company’s stock.

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.