Martingale Asset Management L P Has $19.18 Million Holdings in Newmont Co. (NYSE:NEM)

Martingale Asset Management L P trimmed its holdings in Newmont Co. (NYSE:NEM - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 515,212 shares of the basic materials company's stock after selling 9,409 shares during the period. Martingale Asset Management L P's holdings in Newmont were worth $19,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Insigneo Advisory Services LLC acquired a new stake in shares of Newmont during the 3rd quarter worth about $204,000. Orion Portfolio Solutions LLC lifted its position in Newmont by 58.6% during the third quarter. Orion Portfolio Solutions LLC now owns 14,851 shares of the basic materials company's stock worth $794,000 after acquiring an additional 5,489 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Newmont by 5.8% during the third quarter. MML Investors Services LLC now owns 104,301 shares of the basic materials company's stock worth $5,575,000 after acquiring an additional 5,695 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Newmont in the third quarter valued at approximately $3,270,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Newmont by 6.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 344,328 shares of the basic materials company's stock worth $18,404,000 after purchasing an additional 19,366 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares of the company's stock, valued at $2,144,199.77. This represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,154 shares of company stock valued at $825,678. 0.05% of the stock is currently owned by insiders.

Remove Ads

Newmont Trading Up 7.6 %

NYSE NEM traded up $3.86 on Friday, reaching $54.80. The company had a trading volume of 31,726,645 shares, compared to its average volume of 9,807,669. The firm has a market cap of $61.77 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The business has a 50 day moving average of $46.17 and a two-hundred day moving average of $44.97.

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

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada lifted their price objective 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. Raymond James increased their target price on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and boosted their price target for the company from $50.00 to $60.00 in a research note on Friday. Finally, StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. One 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.55.

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.