Hollencrest Capital Management Reduces Stake in Newmont Co. (NYSE:NEM)

Hollencrest Capital Management lowered its stake in Newmont Co. (NYSE:NEM) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,832 shares of the basic materials company’s stock after selling 916 shares during the period. Hollencrest Capital Management’s holdings in Newmont were worth $2,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd grew its position in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the last quarter. Nordea Investment Management AB lifted its stake in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Finally, Brookstone Capital Management bought a new stake in Newmont in the fourth quarter worth about $245,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NEM. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada lifted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Activity

In related news, COO Natascha Viljoen sold 9,000 shares of the business’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 $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’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 transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Newmont Price Performance

NYSE NEM opened at $43.45 on Wednesday. The firm’s fifty day simple moving average is $42.76 and its two-hundred day simple moving average is $45.87. 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 $33.29 and a 12-month high of $58.72. The firm has a market capitalization of $48.96 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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 analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed 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 2.30%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

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.