Newmont Co. (NYSE:NEM) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 31.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,960 shares of the basic materials company's stock after purchasing an additional 16,174 shares during the quarter. NEOS Investment Management LLC's holdings in Newmont were worth $2,529,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd increased its holdings in Newmont by 36.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 92,150 shares of the basic materials company's stock valued at $3,430,000 after buying an additional 24,593 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Newmont by 6.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,816,370 shares of the basic materials company's stock valued at $69,222,000 after purchasing an additional 105,538 shares in the last quarter. Korea Investment CORP raised its holdings in Newmont by 76.7% in the 4th quarter. Korea Investment CORP now owns 999,815 shares of the basic materials company's stock worth $37,213,000 after purchasing an additional 433,994 shares during the period. Tyler Stone Wealth Management lifted its position in shares of Newmont by 27.6% during the 4th quarter. Tyler Stone Wealth Management now owns 14,291 shares of the basic materials company's stock valued at $532,000 after buying an additional 3,095 shares in the last quarter. Finally, Baxter Bros Inc. lifted its holdings in Newmont by 3.3% during the fourth quarter. Baxter Bros Inc. now owns 15,987 shares of the basic materials company's stock valued at $595,000 after purchasing an additional 510 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.05% of the company's stock.

Newmont Stock Up 0.5 %

Shares of NYSE NEM traded up $0.23 during mid-day trading on Wednesday, hitting $48.52. The company had a trading volume of 4,012,730 shares, compared to its average volume of 9,674,721. The company has a market capitalization of $54.70 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The business's 50-day simple moving average is $45.03 and its 200 day simple moving average is $45.35. Newmont Co. has a 1-year low of $36.44 and a 1-year high of $58.72. 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 (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, beating the consensus estimate of $1.11 by $0.29. The business 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%. On average, analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued 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 2.06%. Newmont's payout ratio is 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 target price for the company. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada lifted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.