Korea Investment CORP Acquires 433,994 Shares of Newmont Co. (NYSE:NEM)

Korea Investment CORP increased its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 76.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999,815 shares of the basic materials company's stock after purchasing an additional 433,994 shares during the period. Korea Investment CORP owned approximately 0.09% of Newmont worth $37,213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tyler Stone Wealth Management increased its position in shares of Newmont by 27.6% during the fourth quarter. Tyler Stone Wealth Management now owns 14,291 shares of the basic materials company's stock worth $532,000 after acquiring an additional 3,095 shares in the last quarter. Baxter Bros Inc. increased its holdings in Newmont by 3.3% during the 4th quarter. Baxter Bros Inc. now owns 15,987 shares of the basic materials company's stock worth $595,000 after purchasing an additional 510 shares in the last quarter. Bay Capital Advisors LLC acquired a new stake in shares of Newmont in the 4th quarter valued at about $225,000. Minneapolis Portfolio Management Group LLC lifted its holdings in shares of Newmont by 0.5% in the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 676,076 shares of the basic materials company's stock valued at $25,164,000 after purchasing an additional 3,317 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in shares of Newmont by 59.8% during the fourth quarter. Sound Shore Management Inc. CT now owns 266,940 shares of the basic materials company's stock worth $9,936,000 after buying an additional 99,910 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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Newmont Trading Up 0.4 %

Shares of NEM stock traded up $0.18 during mid-day trading on Wednesday, reaching $48.47. 3,733,292 shares of the stock traded hands, compared to its average volume of 10,162,597. The stock's fifty day simple moving average is $45.03 and its two-hundred day simple moving average is $45.35. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. 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 $54.64 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

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 analysts' consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's dividend payout ratio is currently 34.13%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEM. TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. Royal Bank of Canada raised 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. Finally, National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.16.

Newmont Company 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.