Legal & General Group Plc Has $246.86 Million Stake in Newmont Co. (NYSE:NEM)

Legal & General Group Plc lessened its holdings in Newmont Co. (NYSE:NEM - Free Report) by 19.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,631,717 shares of the basic materials company's stock after selling 1,645,661 shares during the period. Legal & General Group Plc owned approximately 0.58% of Newmont worth $246,859,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its stake 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 purchasing an additional 18,722 shares during the period. Nordea Investment Management AB grew its position in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after acquiring an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. raised its stake in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock worth $88,580,000 after acquiring an additional 865,213 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Newmont during the fourth quarter valued at $245,000. Finally, Moody National Bank Trust Division boosted its stake in shares of Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after purchasing an additional 2,645 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

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Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares of the company's stock, valued at approximately $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 transaction, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock valued at $825,678 in the last ninety days. 0.05% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada lifted their target price on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. 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 report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.55.

Newmont Trading Up 7.6 %

Shares of NYSE:NEM traded up $3.86 during trading on Friday, hitting $54.80. 31,726,645 shares of the company's stock were exchanged, compared to its average volume of 9,807,669. The firm has a 50-day moving average price of $46.17 and a two-hundred day moving average price 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 cap of $61.77 billion, a P/E ratio of 18.70, a PEG 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 (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. Equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. Newmont's 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.