Meeder Asset Management Inc. Has $1.31 Million Stake in Newmont Co. (NYSE:NEM)

Meeder Asset Management Inc. increased its stake in Newmont Co. (NYSE:NEM - Free Report) by 5,206.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,073 shares of the basic materials company's stock after acquiring an additional 34,412 shares during the period. Meeder Asset Management Inc.'s holdings in Newmont were worth $1,305,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Newmont by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 181,110 shares of the basic materials company's stock valued at $6,741,000 after purchasing an additional 2,877 shares in the last quarter. Bcwm LLC bought a new position in Newmont during the fourth quarter valued at about $947,000. CIBC Private Wealth Group LLC grew its holdings in Newmont by 13.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,792 shares of the basic materials company's stock worth $266,000 after acquiring an additional 783 shares during the period. Allianz SE bought a new stake in Newmont in the fourth quarter worth about $65,385,000. Finally, Allstate Corp bought a new stake in Newmont in the fourth quarter worth about $1,260,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company's stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 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 value of $90,785.67. Following the transaction, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. Insiders own 0.05% of the company's stock.

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Newmont Stock Up 0.0 %

NEM stock traded up $0.01 during midday trading on Tuesday, reaching $48.29. The company had a trading volume of 9,302,888 shares, compared to its average volume of 9,696,475. The company has a 50 day moving average of $45.03 and a two-hundred day moving average of $45.35. The company has a market capitalization of $54.44 billion, a P/E ratio of 16.48, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $36.44 and a 1 year high of $58.72. 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 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. 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 analyst estimates of $5.32 billion. On average, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 annualized dividend and a dividend yield of 2.07%. Newmont's payout ratio is 34.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective on the stock. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada increased their price objective on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.16.

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.