DRW Securities LLC Purchases New Holdings in Newmont Co. (NYSE:NEM)

DRW Securities LLC acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,652 shares of the basic materials company's stock, valued at approximately $285,000.

Several other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC increased its holdings in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC acquired a new stake in shares of Newmont during the 4th quarter valued at about $38,000. Kestra Investment Management LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $43,000. Finally, Assetmark Inc. increased its position in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after buying an additional 820 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NEM traded up $0.08 during mid-day trading on Monday, hitting $55.05. The company's stock had a trading volume of 10,247,384 shares, compared to its average volume of 9,811,662. The firm has a 50-day simple moving average of $46.17 and a 200 day simple moving average of $44.97. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. The firm has a market capitalization of $62.06 billion, a P/E ratio of 18.79, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

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Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

NEM has been the subject of a number of research reports. Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. TD Securities dropped their target price on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $50.00 to $60.00 in a research report on Friday. Raymond James upped their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.55.

About Newmont

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.