BFI Infinity Ltd. Makes New $596,000 Investment in Newmont Co. (NYSE:NEM)

BFI Infinity Ltd. acquired a new position in Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,010 shares of the basic materials company's stock, valued at approximately $596,000. Newmont accounts for about 0.6% of BFI Infinity Ltd.'s portfolio, making the stock its 16th largest holding.

Several other hedge funds have also modified their holdings of NEM. Waverton Investment Management Ltd grew its stake in Newmont by 14.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after acquiring an additional 65,075 shares during the period. Sanctuary Advisors LLC lifted its holdings in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock valued at $1,854,000 after purchasing an additional 18,722 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the period. Red Cedar Investment Management LLC purchased a new stake in shares of Newmont during the third quarter worth about $1,263,000. Finally, Moody National Bank Trust Division raised its position in shares of Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock worth $822,000 after purchasing an additional 2,645 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's 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 $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. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company's stock.

Newmont Trading Up 0.7 %

Shares of Newmont stock traded up $0.30 during mid-day trading on Thursday, hitting $41.67. The stock had a trading volume of 9,416,908 shares, compared to its average volume of 8,937,390. The firm has a 50-day moving average of $40.43 and a two-hundred day moving average of $46.86. The firm has a market cap of $47.44 billion, a P/E ratio of -27.41, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. 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 Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company's revenue was up 84.7% on a year-over-year basis. Sell-side analysts forecast that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont's payout ratio is -65.79%.

Analysts Set New Price Targets

Several research firms recently issued reports on NEM. Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, November 25th. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday. They set a "buy" rating and a $47.20 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.80.

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.