Flossbach Von Storch AG Sells 13,122,219 Shares of Newmont Co. (NYSE:NEM)

Flossbach Von Storch AG lowered its stake in shares of Newmont Co. (NYSE:NEM) by 92.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,057,809 shares of the basic materials company’s stock after selling 13,122,219 shares during the quarter. Flossbach Von Storch AG owned about 0.13% of Newmont worth $43,783,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NEM. Parkside Financial Bank & Trust lifted its holdings in shares of Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after buying an additional 278 shares during the last quarter. S.A. Mason LLC lifted its holdings in shares of Newmont by 15.1% during the third quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock worth $80,000 after buying an additional 285 shares during the last quarter. Grey Street Capital LLC lifted its holdings in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after buying an additional 289 shares during the last quarter. Reitz Capital Advisors LLC lifted its holdings in shares of Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after buying an additional 298 shares during the last quarter. Finally, Antonetti Capital Management LLC lifted its holdings in shares of Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after buying an additional 300 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock traded up $0.45 during mid-day trading on Wednesday, hitting $38.56. 10,434,070 shares of the company were exchanged, compared to its average volume of 13,667,738. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $34.59 and a 200 day moving average of $36.80. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18. The company has a market capitalization of $44.45 billion, a PE ratio of -16.20, a price-to-earnings-growth ratio of 1.03 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, sell-side analysts expect that Newmont Co. will post 2.02 earnings per share for the current year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Monday, March 4th. Newmont’s payout ratio is presently -42.02%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. Scotiabank cut their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada cut their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Citigroup cut their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.97.

About Newmont

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.