Oxford Asset Management LLP Purchases 38,086 Shares of Newmont Co. (NYSE:NEM)

Oxford Asset Management LLP raised its position in Newmont Co. (NYSE:NEM - Free Report) by 771.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,022 shares of the basic materials company's stock after buying an additional 38,086 shares during the quarter. Newmont comprises about 0.8% of Oxford Asset Management LLP's portfolio, making the stock its 13th largest position. Oxford Asset Management LLP's holdings in Newmont were worth $1,601,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC increased its holdings in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 361 shares during the period. HHM Wealth Advisors LLC boosted its position in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after purchasing an additional 350 shares during the period. Redwood Park Advisors LLC purchased a new stake in shares of Newmont during the fourth quarter worth $37,000. Promus Capital LLC purchased a new position in shares of Newmont during the 4th quarter valued at $38,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Newmont during the 4th quarter valued at about $43,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NEM shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday. Argus set a $63.00 target price on shares of Newmont in a report on Friday. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, UBS Group raised Newmont from a "neutral" rating to a "buy" rating and increased their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.40.

Insider Activity 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 transaction of $90,785.67. Following the sale, the director now owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's 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 sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,154 shares of company stock worth $825,678. Company insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of Newmont stock opened at $53.93 on Friday. The business has a 50 day simple moving average of $47.89 and a two-hundred day simple moving average of $45.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $60.79 billion, a P/E ratio of 18.41, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. As a group, analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is currently 34.13%.

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.

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