Strategic Financial Concepts LLC Invests $1.62 Million in Newmont Co. (NYSE:NEM)

Strategic Financial Concepts LLC acquired a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,622 shares of the basic materials company's stock, valued at approximately $1,624,000.

Several other large investors have also made changes to their positions in NEM. Zurich Insurance Group Ltd FI acquired a new position in shares of Newmont during the 3rd quarter worth about $98,011,000. Nordea Investment Management AB lifted its position in shares of 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 worth $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. FMR LLC lifted its position in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock worth $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock valued at $80,960,000 after acquiring an additional 1,096,905 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company's stock valued at $52,377,000 after acquiring an additional 964,815 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,154 shares of company stock worth $1,166,843. Insiders own 0.06% of the company's stock.

Newmont Price Performance

NYSE NEM traded down $2.84 during trading hours on Friday, reaching $45.25. 17,229,932 shares of the company's stock were exchanged, compared to its average volume of 9,447,639. The stock has a market cap of $51.52 billion, a PE ratio of -29.77, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The firm has a fifty day moving average of $41.56 and a 200-day moving average of $46.46. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. On average, equities research analysts predict that Newmont Co. will post 3.11 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Newmont's payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group cut Newmont from a "buy" rating to a "neutral" rating and cut their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. CIBC cut Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. Bernstein Bank upped their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Royal Bank of Canada upped their price target on Newmont from $47.00 to $52.00 and gave the company 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, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.37.

Newmont Company 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.