Norges Bank Takes Position in Newmont Co. (NYSE:NEM)

Norges Bank acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,823,222 shares of the basic materials company's stock, valued at approximately $626,074,000. Norges Bank owned about 1.48% of Newmont at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Zurich Insurance Group Ltd FI bought a new stake in shares of Newmont in the third quarter valued at approximately $98,011,000. Nordea Investment Management AB raised its holdings in Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after acquiring an additional 1,578,545 shares during the period. Amundi raised its holdings in Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after acquiring an additional 1,507,708 shares during the period. FMR LLC lifted its position in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock worth $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Finally, Ruffer LLP boosted its holdings in shares of Newmont by 19.7% in the fourth quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company's stock worth $263,706,000 after acquiring an additional 1,164,870 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 in the last quarter. Company insiders own 0.05% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NEM shares. Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada raised their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group started 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average target price of $53.16.

Newmont Trading Up 0.6 %

NYSE NEM traded up $0.28 during trading on Wednesday, hitting $48.57. 4,226,461 shares of the company's stock traded hands, compared to its average volume of 9,675,583. The firm has a market cap of $54.75 billion, a P/E ratio of 16.58, a PEG ratio of 0.41 and a beta of 0.54. The stock has a fifty day moving average of $45.03 and a two-hundred day moving average of $45.35. 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 Co. has a 12-month low of $36.44 and a 12-month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) 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. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. Newmont's dividend payout ratio is currently 34.13%.

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.