GAMMA Investing LLC Decreases Position in Newmont Co. (NYSE:NEM)

GAMMA Investing LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,306 shares of the basic materials company’s stock after selling 1,324 shares during the quarter. GAMMA Investing LLC’s holdings in Newmont were worth $644,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Natixis Advisors LLC grew its holdings in Newmont by 70.3% during the 2nd quarter. Natixis Advisors LLC now owns 120,787 shares of the basic materials company’s stock valued at $5,057,000 after purchasing an additional 49,859 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Newmont by 1.5% during the second quarter. TD Asset Management Inc now owns 1,269,573 shares of the basic materials company’s stock valued at $53,139,000 after acquiring an additional 18,509 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Newmont by 1.3% during the second quarter. Victory Capital Management Inc. now owns 1,510,301 shares of the basic materials company’s stock worth $63,236,000 after acquiring an additional 18,698 shares during the last quarter. Arizona State Retirement System increased its position in shares of Newmont by 1.0% during the second quarter. Arizona State Retirement System now owns 334,199 shares of the basic materials company’s stock worth $13,993,000 after acquiring an additional 3,472 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Newmont by 135.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,250 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 720 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reduced their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Price Performance

Shares of NEM opened at $38.11 on Friday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a fifty day moving average price of $41.55 and a 200 day moving average price of $46.99. The company has a market cap of $43.39 billion, a P/E ratio of -25.07, a PEG ratio of 0.35 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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.