APG Asset Management N.V. Purchases 640,645 Shares of Newmont Co. (NYSE:NEM)

APG Asset Management N.V. raised its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 315.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 843,568 shares of the basic materials company's stock after buying an additional 640,645 shares during the quarter. APG Asset Management N.V. owned 0.07% of Newmont worth $30,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its stake in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after purchasing an additional 361 shares during the period. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 66.0% in the fourth 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 period. Promus Capital LLC purchased a new position in shares of Newmont during the fourth quarter valued at $38,000. Kestra Investment Management LLC acquired a new position in Newmont during the fourth quarter valued at $43,000. Finally, Assetmark Inc. lifted its stake in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after acquiring an additional 820 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the sale, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the transaction, the executive vice president now directly owns 79,596 shares of the company's stock, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,154 shares of company stock valued at $825,678. 0.05% of the stock is owned by corporate insiders.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Raymond James increased their target price on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Royal Bank of Canada boosted their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Scotiabank dropped their target price on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.55.

Newmont Stock Performance

Shares of NEM traded up $3.86 during mid-day trading on Friday, hitting $54.80. The company's stock had a trading volume of 31,726,645 shares, compared to its average volume of 9,807,669. The stock's 50-day moving average is $46.17 and its two-hundred day moving average is $44.97. The firm has a market capitalization of $61.77 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a one year low of $36.60 and a one year 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Newmont's dividend payout ratio is currently 34.13%.

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.