Dynamic Technology Lab Private Ltd Boosts Stock Position in Newmont Co. (NYSE:NEM)

Dynamic Technology Lab Private Ltd boosted its holdings in Newmont Co. (NYSE:NEM - Free Report) by 83.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,078 shares of the basic materials company's stock after purchasing an additional 16,818 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Newmont were worth $1,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. HighPoint Advisor Group LLC grew its holdings in shares of Newmont by 3.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after acquiring an additional 219 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock valued at $439,000 after purchasing an additional 281 shares during the period. Howard Capital Management Inc. boosted its position in shares of Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after acquiring an additional 292 shares during the period. Intact Investment Management Inc. lifted its stake in Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after purchasing an additional 300 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its position in shares of Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock valued at $338,000 after acquiring an additional 303 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

NEM has been the topic of several research reports. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada increased their target price on shares of Newmont from $51.00 to $52.00 and gave the stock 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 note on Monday, February 24th. Finally, National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $54.09.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction 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. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 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 transaction of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company's stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is owned by company insiders.

Newmont Stock Up 8.5 %

Shares of NEM traded up $3.81 on Wednesday, hitting $48.77. 24,844,511 shares of the stock traded hands, compared to its average volume of 9,742,532. The business has a 50 day simple moving average of $45.78 and a 200 day simple moving average of $45.08. 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. The company has a market capitalization of $54.97 billion, a PE ratio of 16.64, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly 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 the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. 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.