Pathstone Family Office LLC Trims Stake in Newmont Co. (NYSE:NEM)

Pathstone Family Office LLC lowered its stake in shares of Newmont Co. (NYSE:NEM – Get Rating) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,352 shares of the basic materials company’s stock after selling 2,915 shares during the quarter. Pathstone Family Office LLC’s holdings in Newmont were worth $857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. Hoey Investments Inc. purchased a new stake in Newmont in the second quarter worth about $30,000. Cowa LLC purchased a new stake in Newmont in the third quarter worth about $32,000. Avion Wealth grew its holdings in Newmont by 4,664.7% in the third quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 793 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Newmont in the third quarter worth about $34,000. Finally, Central Bank & Trust Co. grew its holdings in Newmont by 56.7% in the third quarter. Central Bank & Trust Co. now owns 953 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Fundamental Research set a $51.92 price objective on shares of Newmont and gave the stock a “buy” rating in a report on Tuesday, March 7th. Credit Suisse Group increased their price target on shares of Newmont to $54.00 in a report on Monday, November 21st. Raymond James cut their price target on shares of Newmont from $61.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Canaccord Genuity Group reiterated a “hold” rating and set a $56.00 price target (up previously from $50.00) on shares of Newmont in a report on Thursday, January 19th. Finally, National Bank Financial increased their price target on shares of Newmont from C$76.00 to C$86.00 in a report on Friday, January 13th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.28.

Insider Transactions at Newmont

In other news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction on 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 sale, the chief operating officer now directly owns 33,947 shares of the company’s stock, valued at $1,637,263.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction on 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 sale, the chief operating officer now directly owns 33,947 shares of the company’s stock, valued at $1,637,263.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total transaction of $486,750.00. Following the completion of the sale, the chief executive officer now directly owns 322,039 shares of the company’s stock, valued at $14,250,225.75. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock valued at $1,294,720 over the last three months. Corporate insiders own 0.11% of the company’s stock.

Newmont Stock Up 1.0 %

NEM opened at $42.16 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. Newmont Co. has a 1-year low of $37.45 and a 1-year high of $86.37. The firm’s 50 day simple moving average is $48.84 and its two-hundred day simple moving average is $45.73.

Newmont (NYSE:NEM – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share 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 business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts expect that Newmont Co. will post 2.3 EPS for the current year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.80%. Newmont’s dividend payout ratio (DPR) is presently -296.29%.

Newmont Profile

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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.