Newmont Co. (NYSE:NEM) Shares Purchased by Bridgewater Associates LP

Bridgewater Associates LP raised its stake in Newmont Co. (NYSE:NEM - Free Report) by 97.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,405,888 shares of the basic materials company's stock after acquiring an additional 694,297 shares during the period. Bridgewater Associates LP owned approximately 0.12% of Newmont worth $52,327,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its stake in Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after acquiring an additional 1,213,397 shares during the last quarter. Norges Bank purchased a new stake in Newmont during the fourth quarter valued at approximately $626,074,000. Amundi lifted its stake in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. BMO Capital Markets initiated coverage on shares of Newmont in a research note on Wednesday. They issued an "outperform" rating and a $63.00 price objective for the company. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and increased their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research report on Monday. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. 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, seven have given a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.02.

Newmont Price Performance

NEM stock traded down $0.87 during trading on Friday, hitting $55.08. The stock had a trading volume of 14,364,376 shares, compared to its average volume of 9,880,865. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72. The company's 50-day moving average price is $47.14 and its two-hundred day moving average price is $45.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $62.08 billion, a P/E ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping 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 return on equity of 13.52% and a net margin of 17.92%. As a group, research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company's stock, valued at $3,413,872.44. This represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now directly owns 47,916 shares of the company's stock, valued at $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is owned by insiders.

Newmont 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.