Massmutual Trust Co. FSB ADV Trims Position in Newmont Co. (NYSE:NEM)

Massmutual Trust Co. FSB ADV decreased its position in shares of Newmont Co. (NYSE:NEM – Get Rating) by 82.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,568 shares of the basic materials company’s stock after selling 35,626 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Newmont were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEM. Blair William & Co. IL grew its stake in shares of Newmont by 14.8% during the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after purchasing an additional 5,484 shares during the period. Sei Investments Co. grew its stake in Newmont by 19.3% in the 1st quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock valued at $5,219,000 after acquiring an additional 10,692 shares during the period. Cetera Investment Advisers grew its stake in Newmont by 46.9% in the 1st quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after acquiring an additional 8,915 shares during the period. Baird Financial Group Inc. grew its stake in Newmont by 7.2% in the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after acquiring an additional 39,765 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in Newmont by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NEM shares. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $59.00 to $53.00 in a research note on Tuesday, February 14th. Fundamental Research set a $51.92 price target on shares of Newmont and gave the company a “buy” rating in a research note on Tuesday, March 7th. Barclays lifted their price target on shares of Newmont from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. StockNews.com started coverage on shares of Newmont in a research note on Thursday. They set a “hold” rating on the stock. Finally, Raymond James lowered their target price on shares of Newmont from $61.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.21.

Newmont Stock Up 5.2 %

NYSE NEM opened at $48.17 on Friday. Newmont Co. has a 52 week low of $37.45 and a 52 week high of $86.37. The company has a quick ratio of 1.89, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $48.39 and its 200-day simple moving average is $45.80. The firm has a market cap of $38.27 billion, a PE ratio of -89.20, a P/E/G ratio of 1.77 and a beta of 0.31.

Newmont (NYSE:NEM – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). Newmont had a positive return on equity of 6.98% and a negative net margin of 3.60%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Newmont Co. will post 2.24 earnings per share for the current year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $1.60 annualized dividend and a yield of 3.32%. Newmont’s dividend payout ratio (DPR) is currently -296.29%.

Insider Activity at Newmont

In related news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $144,690.00. Following the sale, the chief operating officer now directly owns 33,947 shares in the company, valued at approximately $1,637,263.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the sale, the chief executive officer now directly owns 199,949 shares in the company, valued at approximately $9,643,540.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $144,690.00. Following the completion of the transaction, the chief operating officer now directly owns 33,947 shares of the company’s stock, valued at $1,637,263.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,000 shares of company stock worth $1,294,720. Company insiders own 0.11% of the company’s stock.

About Newmont

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.