Farringdon Capital Ltd. Buys Shares of 10,362 Newmont Co. (NYSE:NEM)

Farringdon Capital Ltd. purchased a new stake in Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,362 shares of the basic materials company's stock, valued at approximately $386,000.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Norges Bank purchased a new stake in shares of Newmont during the 4th quarter valued at approximately $626,074,000. Renaissance Technologies LLC acquired a new position in shares of Newmont in the 4th quarter valued at $76,281,000. Invesco Ltd. grew its holdings 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 worth $391,568,000 after purchasing an additional 2,028,150 shares during the period. Allianz SE acquired a new stake in shares of Newmont during the 4th quarter worth about $65,385,000. Finally, Nordea Investment Management AB increased its position in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Down 1.6 %

Shares of NEM traded down $0.87 during midday trading on Friday, reaching $55.08. The stock had a trading volume of 14,364,376 shares, compared to its average volume of 9,878,623. 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 company's fifty day simple moving average is $47.14 and its two-hundred day simple moving average is $45.07. The company has a market cap of $62.08 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. Equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the sale, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. This represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock worth $825,678 in the last ninety days. 0.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on NEM shares. 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 research note on Friday, April 4th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and raised their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Raymond James boosted their price objective on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Finally, TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $55.02.

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.