Sanctuary Advisors LLC Sells 5,909 Shares of Newmont Co. (NYSE:NEM)

Sanctuary Advisors LLC lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,777 shares of the basic materials company’s stock after selling 5,909 shares during the period. Sanctuary Advisors LLC’s holdings in Newmont were worth $1,071,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NEM. Wealth Enhancement Advisory Services LLC raised its stake in Newmont by 0.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 142,583 shares of the basic materials company’s stock worth $7,621,000 after buying an additional 861 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Newmont by 3.8% during the third quarter. J.W. Cole Advisors Inc. now owns 8,438 shares of the basic materials company’s stock worth $451,000 after buying an additional 309 shares during the last quarter. abrdn plc raised its stake in Newmont by 35.3% during the third quarter. abrdn plc now owns 1,738,741 shares of the basic materials company’s stock worth $92,840,000 after buying an additional 453,603 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Newmont during the third quarter worth $210,000. Finally, Highline Wealth Partners LLC bought a new stake in Newmont in the third quarter valued at $32,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the transaction, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at approximately $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $43.55 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market cap of $49.58 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The business has a 50 day moving average price of $41.82 and a 200-day moving average price of $46.37. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given 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 payout ratio is 34.13%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NEM shares. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Scotiabank decreased their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Company 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.