Newmont Co. (NYSE:NEM) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS grew its position in Newmont Co. (NYSE:NEM) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 236,433 shares of the basic materials company’s stock after acquiring an additional 10,266 shares during the quarter. DnB Asset Management AS’s holdings in Newmont were worth $8,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. HHM Wealth Advisors LLC lifted its position in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares during the last quarter. Promus Capital LLC bought a new position in Newmont in the fourth quarter worth about $38,000. McIlrath & Eck LLC boosted its stake in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. Kestra Investment Management LLC bought a new position in shares of Newmont during the fourth quarter valued at approximately $43,000. Finally, Assetmark Inc. raised its position in shares of Newmont by 185.9% during the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 820 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Scotiabank cut their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now directly owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 in the last quarter. 0.05% of the stock is owned by company insiders.

Newmont Stock Performance

Shares of NEM opened at $48.06 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm’s 50 day moving average is $44.78 and its 200-day moving average is $45.46. Newmont Co. has a 12-month low of $36.10 and a 12-month high of $58.72. The stock has a market capitalization of $54.17 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54.

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

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

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.