Everence Capital Management Inc. Increases Position in Newmont Co. (NYSE:NEM)

Everence Capital Management Inc. lifted its stake in Newmont Co. (NYSE:NEM - Free Report) by 90.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,530 shares of the basic materials company's stock after purchasing an additional 14,460 shares during the period. Everence Capital Management Inc.'s holdings in Newmont were worth $1,136,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd grew its position in shares of Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock worth $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock valued at $1,854,000 after acquiring an additional 18,722 shares during the period. Red Cedar Investment Management LLC purchased a new stake in shares of Newmont during the 3rd quarter worth $1,263,000. Two Sigma Advisers LP boosted its position in Newmont by 99.8% during the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company's stock valued at $32,138,000 after purchasing an additional 300,400 shares in the last quarter. Finally, Bridgewater Associates LP grew its position in shares of Newmont by 1,947.6% in the 3rd quarter. Bridgewater Associates LP now owns 711,591 shares of the basic materials company's stock worth $38,035,000 after buying an additional 676,838 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on NEM. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. UBS Group lowered shares of Newmont from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.31.

Newmont Price Performance

NEM traded down $0.26 during trading on Friday, reaching $38.11. The company's stock had a trading volume of 6,261,567 shares, compared to its average volume of 7,278,833. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. 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 cap of $43.39 billion, a price-to-earnings ratio of -25.07, a PEG ratio of 0.35 and a beta of 0.50. The firm has a fifty day simple moving average of $41.55 and a two-hundred day simple moving average of $46.99.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company's revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. Newmont's payout ratio is currently -65.79%.

Insider Buying and Selling at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now directly owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.