Blueshift Asset Management LLC Acquires New Stake in Newmont Co. (NYSE:NEM)

Blueshift Asset Management LLC purchased a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,877 shares of the basic materials company's stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Natixis Advisors LLC lifted its holdings in Newmont by 35.7% during the 3rd quarter. Natixis Advisors LLC now owns 163,940 shares of the basic materials company's stock valued at $8,763,000 after purchasing an additional 43,153 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Newmont by 10.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company's stock worth $4,775,000 after buying an additional 8,449 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Newmont by 9.1% during the 3rd quarter. Pathstone Holdings LLC now owns 131,332 shares of the basic materials company's stock worth $7,020,000 after buying an additional 10,967 shares during the period. PNC Financial Services Group Inc. grew its stake in Newmont by 14.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 152,118 shares of the basic materials company's stock valued at $8,131,000 after buying an additional 18,895 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares during the period. Institutional investors own 68.85% of the company's stock.

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Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 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 $83,080.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 over the last quarter. Corporate insiders own 0.06% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded down $0.19 during trading hours on Wednesday, reaching $47.36. The company's stock had a trading volume of 6,828,624 shares, compared to its average volume of 9,360,622. Newmont Co. has a fifty-two week low of $34.00 and a fifty-two week high of $58.72. The firm's 50 day simple moving average is $44.40 and its 200-day simple moving average is $45.48. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $53.38 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (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 analysts' expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.11%. The ex-dividend date is Tuesday, March 4th. Newmont's payout ratio is 34.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Scotiabank decreased 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. CLSA assumed coverage on Newmont in a report on Friday, November 29th. They issued an "underperform" rating on the stock. Royal Bank of Canada lifted their target price on Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a 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 initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.16.

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.