Magnetar Financial LLC Invests $205,000 in Newmont Co. (NYSE:NEM)

Magnetar Financial LLC acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,516 shares of the basic materials company's stock, valued at approximately $205,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its position in shares of Newmont by 773.7% during the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock worth $2,511,000 after purchasing an additional 59,740 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in shares of Newmont by 4.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 497,828 shares of the basic materials company's stock valued at $18,529,000 after acquiring an additional 22,682 shares in the last quarter. Generali Investments Management Co LLC acquired a new stake in shares of Newmont during the fourth quarter valued at $126,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in Newmont by 10.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,366 shares of the basic materials company's stock worth $544,000 after purchasing an additional 1,397 shares in the last quarter. Finally, Xponance Inc. raised its stake in Newmont by 0.6% in the 4th quarter. Xponance Inc. now owns 166,085 shares of the basic materials company's stock valued at $6,182,000 after purchasing an additional 1,001 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

NEM has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 target price on the stock. Royal Bank of Canada raised their target price on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an "underperform" rating on the stock. Scotiabank reduced their price objective on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. Finally, National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $53.16.

Newmont Stock Up 2.1 %

Shares of NEM traded up $0.99 during mid-day trading on Thursday, reaching $48.38. The company's stock had a trading volume of 11,012,482 shares, compared to its average volume of 9,367,720. The business has a fifty day moving average of $44.52 and a 200 day moving average of $45.50. 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 $54.53 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $34.18 and a 1 year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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 firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont's dividend payout ratio is currently 34.13%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares of the company's stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company's stock.

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.