Newmont Co. (NYSE:NEM) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 36.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the basic materials company’s stock after selling 7,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Newmont were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NEM. Sequoia Financial Advisors LLC raised its holdings in Newmont by 35.4% during the third quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock worth $715,000 after purchasing an additional 3,498 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Newmont by 6,387.0% in the third quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after buying an additional 964,815 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in shares of Newmont by 914.5% during the 3rd quarter. Silver Oak Securities Incorporated now owns 12,834 shares of the basic materials company’s stock worth $692,000 after buying an additional 11,569 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Newmont by 12.5% in the 3rd quarter. Ballentine Partners LLC now owns 15,784 shares of the basic materials company’s stock worth $844,000 after buying an additional 1,754 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Newmont in the 3rd quarter valued at about $529,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NYSE:NEM opened at $45.25 on Monday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm’s 50 day moving average is $41.56 and its two-hundred day moving average is $46.45. The company has a market cap of $51.52 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent research reports. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Bernstein Bank upped their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction 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 sale, the director now directly 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,154 shares of company stock valued at $1,166,843. Company 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.