DnB Asset Management AS Buys 10,266 Shares of Newmont Co. (NYSE:NEM)

DnB Asset Management AS boosted its stake in Newmont Co. (NYSE:NEM - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,433 shares of the basic materials company's stock after purchasing an additional 10,266 shares during the period. DnB Asset Management AS's holdings in Newmont were worth $8,800,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NEM. Cerity Partners LLC increased its stake in shares of Newmont by 49.3% in the third quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company's stock valued at $3,129,000 after buying an additional 19,321 shares during the period. FMR LLC boosted its holdings in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock valued at $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Townsquare Capital LLC increased its position in Newmont by 117.7% during the 3rd quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company's stock valued at $1,245,000 after purchasing an additional 12,596 shares during the period. Glenmede Trust Co. NA raised its holdings in Newmont by 8.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company's stock worth $1,584,000 after purchasing an additional 2,199 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Newmont by 11.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 49,238 shares of the basic materials company's stock worth $2,632,000 after purchasing an additional 4,900 shares during the period. 68.85% of the stock is owned by institutional investors.

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Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 over the last ninety days. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

NEM has been the subject of a number of analyst reports. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Finally, Scotiabank dropped their price target 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.16.

Newmont Stock Up 0.6 %

NEM stock traded up $0.31 during mid-day trading on Thursday, reaching $49.04. 7,711,349 shares of the company traded hands, compared to its average volume of 10,203,696. 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 firm's 50 day moving average price is $45.17 and its 200 day moving average price is $45.37. The stock has a market cap of $55.28 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results 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 company had revenue of $5.65 billion for 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%. As a group, equities research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.04%. Newmont's dividend payout ratio is currently 34.13%.

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.