Price T Rowe Associates Inc. MD Has $219.11 Million Stake in Newmont Co. (NYSE:NEM)

Price T Rowe Associates Inc. MD grew its position in Newmont Co. (NYSE:NEM - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,886,961 shares of the basic materials company's stock after purchasing an additional 635,554 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.52% of Newmont worth $219,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. McIlrath & Eck LLC boosted its position in shares of 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 acquiring an additional 361 shares during the period. Virtu Financial LLC raised its stake in Newmont by 183.2% during the 3rd quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company's stock valued at $1,237,000 after purchasing an additional 14,967 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Newmont in the 3rd quarter valued at $422,000. Cim Investment Management Inc. acquired a new stake in Newmont in the 3rd quarter worth $1,033,000. Finally, Tidal Investments LLC increased its holdings in shares of Newmont by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 163,695 shares of the basic materials company's stock worth $8,749,000 after purchasing an additional 8,412 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on NEM. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and increased their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. National Bank Financial upgraded Newmont to a "hold" rating in a research note on Friday, March 21st. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Finally, Royal Bank of Canada boosted their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.40.

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 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the sale, the chief operating officer now directly owns 136,967 shares of the company's stock, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,154 shares of company stock worth $825,678. Insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM traded up $0.11 during midday trading on Monday, reaching $54.05. The company's stock had a trading volume of 9,365,554 shares, compared to its average volume of 9,858,381. The business's fifty day simple moving average is $47.89 and its 200-day simple moving average is $45.07. 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 Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The company has a market capitalization of $60.93 billion, a P/E ratio of 18.45, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company posted $0.55 EPS. As a group, equities research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is 22.42%.

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.