Signaturefd LLC Reduces Stake in Newmont Co.

Signaturefd LLC has reduced its investment in Newmont Co. (NYSE:NEM) by 29.4% during the fourth quarter, based on the most recent Form 13F filing with the SEC. After selling 6,912 shares during this period, the fund now owns 16,574 shares of the basic materials company's stock, which are valued at approximately $617,000.

A number of other institutional investors and hedge funds have also adjusted their shareholdings in Newmont. Van ECK Associates Corp increased its holdings by 1.6%, owning 49,747,598 shares valued at $1,851,606,000 after acquiring an additional 797,445 shares. Similarly, Geode Capital Management LLC grew its stake by 1.4% in the third quarter, now holding 23,484,382 shares worth $1,253,457,000 after purchasing an extra 326,243 shares. Amundi boosted its position in Newmont by 14.0% in the fourth quarter and now owns 12,302,579 shares valued at $481,400,000 following a purchase of 1,507,708 shares. Additionally, Ruffer LLP raised its stake by 19.7%, owning 7,085,101 shares worth $263,706,000 and acquiring 1,164,870 shares during the last quarter.

FMR LLC also increased its position by 21.1% during the third quarter, gaining ownership of 7,052,439 shares valued at $376,953,000 after an increase of 1,226,697 shares. In total, institutional investors hold 68.85% of Newmont's stock.

Wall Street Analysts' Perspectives

Newmont has captured attention from several Wall Street analysts. Recently, Raymond James lowered its target price from $62.00 to $59.00 while maintaining an "outperform" rating on the stock. CLSA has initiated coverage with an "underperform" rating. The Goldman Sachs Group began coverage with a "buy" rating, setting a price objective of $47.20 for the company. In February, TD Securities reduced their target price from $46.00 to $45.00, assigning a "hold" rating to the stock. Additionally, Royal Bank of Canada raised its price target from $47.00 to $52.00, granting the company a "sector perform" rating.

According to data from MarketBeat, one research analyst has issued a sell rating, while seven analysts have recommended holding the stock. Nine analysts have rated Newmont as a buy and two have given it a strong buy rating. The average rating remains a "Moderate Buy" with an expected price target of $53.16.

Recent Insider Transactions

In other news related to Newmont, Director Bruce R. Brook sold 2,077 shares on March 3rd at an average price of $43.71, totaling $90,785.67. This sale reduced his stake by 4.15%, and he now holds 47,916 shares valued at approximately $2,094,408.36. Meanwhile, EVP Peter Toth sold 3,000 shares on January 10th for $120,000. As a result, he now owns 82,596 shares valued at $3,303,840. Over the past ninety days, insiders have sold a total of 33,231 shares worth $1,388,758, with insiders collectively owning 0.06% of Newmont's stock.

Current Market Performance

As of Thursday, NEM shares opened at $48.00. The stock shows a 50-day simple moving average of $43.76 and a 200-day simple moving average of $45.66. Over the past year, the stock has ranged from a low of $33.29 to a high of $58.72. Newmont currently has a market capitalization of $54.09 billion, a P/E ratio of 16.38, and a price-to-earnings-growth ratio of 0.41.

Newmont reported its earnings results on February 20th, delivering an EPS of $1.40, exceeding the consensus estimate of $1.11. The company's revenue for the quarter was reported at $5.65 billion, surpassing expectations of $5.32 billion. The net margin stood at 17.92%, and the return on equity reached 13.52%. Research analysts predict an average EPS of 3.45 for the current fiscal year.

Dividend Announcement

The company also announced a quarterly dividend of $0.25 per share, which will be paid on March 27th to stockholders of record as of March 4th. This reflects an annualized dividend of $1.00 and provides a dividend yield of 2.08%. The current dividend payout ratio stands at 34.13%.

About Newmont Corporation

Newmont Corporation specializes in gold production and exploration, alongside copper, silver, zinc, and lead. The company operates in regions across the globe, including the United States, Canada, Mexico, and several countries in South America, Africa, and Australia.

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