Kopernik Global Investors LLC Invests $28.11 Million in Newmont Co. (NYSE:NEM)

Kopernik Global Investors LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 755,147 shares of the basic materials company's stock, valued at approximately $28,107,000. Newmont comprises approximately 3.1% of Kopernik Global Investors LLC's investment portfolio, making the stock its 11th largest position. Kopernik Global Investors LLC owned approximately 0.07% of Newmont as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sagespring Wealth Partners LLC bought a new position in Newmont in the fourth quarter worth approximately $244,000. Townsquare Capital LLC increased its holdings in Newmont by 31.4% in the 4th quarter. Townsquare Capital LLC now owns 30,613 shares of the basic materials company's stock worth $1,139,000 after acquiring an additional 7,314 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Newmont by 4.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 404,700 shares of the basic materials company's stock worth $15,063,000 after acquiring an additional 19,042 shares during the period. Sterling Capital Management LLC boosted its position in shares of Newmont by 1,532.6% in the fourth quarter. Sterling Capital Management LLC now owns 84,193 shares of the basic materials company's stock worth $3,134,000 after purchasing an additional 79,036 shares during the period. Finally, Argent Trust Co increased its stake in shares of Newmont by 61.7% in the fourth quarter. Argent Trust Co now owns 42,169 shares of the basic materials company's stock worth $1,570,000 after purchasing an additional 16,094 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NYSE:NEM traded down $0.75 on Thursday, hitting $55.21. 9,814,737 shares of the company were exchanged, compared to its average volume of 11,592,434. The firm has a market capitalization of $62.23 billion, a P/E ratio of 18.84, a price-to-earnings-growth 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. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. The stock's 50 day moving average price is $46.78 and its 200 day moving average price is $45.12.

Newmont (NYSE:NEM - Get Free Report) last announced 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. The firm had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Sell-side analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%. Newmont's payout ratio is currently 34.13%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,154 shares of company stock worth $825,678 over the last three months. Company insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research analyst reports. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada boosted their price target 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. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $50.00 to $60.00 in a report on Friday, April 11th. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued 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, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $55.02.

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.