KLP Kapitalforvaltning AS Invests $20.44 Million in Newmont Co. (NYSE:NEM)

KLP Kapitalforvaltning AS purchased a new stake in Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 549,281 shares of the basic materials company's stock, valued at approximately $20,444,000.

Several other large investors have also recently modified their holdings of the business. Studio Investment Management LLC increased its holdings in Newmont by 29.4% in the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company's stock valued at $61,000 after purchasing an additional 261 shares during the period. Confluence Investment Management LLC increased its stake in shares of Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock valued at $439,000 after buying an additional 281 shares during the period. Howard Capital Management Inc. raised its position in shares of Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after acquiring an additional 292 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of Newmont by 21.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after acquiring an additional 300 shares during the period. Finally, Fiduciary Financial Group LLC raised its holdings in Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock worth $338,000 after purchasing an additional 303 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

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Newmont Stock Up 2.1 %

NEM stock traded up $0.99 during mid-day trading on Thursday, reaching $48.38. 11,012,482 shares of the company traded hands, compared to its average volume of 9,367,731. The stock has a market cap of $54.53 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $34.18 and a fifty-two week high of $58.72. The firm's 50 day moving average price is $44.52 and its 200 day moving average price is $45.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced 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 return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. As a group, equities research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, March 4th. Newmont's payout ratio is currently 34.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NEM shares. Scotiabank decreased their price objective 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 dropped their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. National Bank Financial raised Newmont to a "hold" rating in a research note on Friday, March 21st. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada increased their price target 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 given 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.16.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now directly owns 145,967 shares of the company's stock, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by insiders.

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.