Nemes Rush Group LLC Buys 1,357 Shares of Newmont Co. (NYSE:NEM)

Nemes Rush Group LLC boosted its stake in Newmont Co. (NYSE:NEM) by 206.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,013 shares of the basic materials company’s stock after acquiring an additional 1,357 shares during the period. Nemes Rush Group LLC’s holdings in Newmont were worth $75,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in Newmont by 11.1% in the third quarter. Public Sector Pension Investment Board now owns 49,238 shares of the basic materials company’s stock valued at $2,632,000 after purchasing an additional 4,900 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in shares of Newmont during the 3rd quarter valued at $407,000. Investment Management Corp of Ontario grew its stake in shares of Newmont by 49.0% during the 3rd quarter. Investment Management Corp of Ontario now owns 38,328 shares of the basic materials company’s stock worth $2,049,000 after acquiring an additional 12,600 shares during the period. Royal London Asset Management Ltd. increased its holdings in Newmont by 2.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 475,146 shares of the basic materials company’s stock worth $25,397,000 after acquiring an additional 12,705 shares during the last quarter. Finally, Quarry LP bought a new stake in Newmont in the 3rd quarter valued at about $161,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. TD Securities reduced their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Finally, Royal Bank of Canada increased their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Trading Up 0.9 %

Shares of Newmont stock opened at $48.74 on Thursday. The company has a 50 day simple moving average of $45.17 and a two-hundred day simple moving average of $45.37. The firm has a market cap of $54.94 billion, a PE ratio of 16.63, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $36.60 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its 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 company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s 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 $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.05% of the company’s stock.

Newmont Profile

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.