Cadinha & Co. LLC Decreases Position in Newmont Co. (NYSE:NEM)

Cadinha & Co. LLC decreased its position in Newmont Co. (NYSE:NEM) by 98.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,850 shares of the basic materials company’s stock after selling 328,339 shares during the period. Cadinha & Co. LLC’s holdings in Newmont were worth $255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Hoese & Co LLP bought a new position in shares of Newmont during the 3rd quarter worth $27,000. Avior Wealth Management LLC boosted its position in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC boosted its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In other news, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock worth $563,080 in the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reduced their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Finally, Bernstein Bank increased their target price 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 given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Newmont Price Performance

Shares of NYSE NEM opened at $41.72 on Friday. The stock’s 50-day moving average is $40.29 and its 200 day moving average is $46.83. 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 Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, equities research analysts expect that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

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.