Rahlfs Capital LLC Buys New Shares in Newmont Co. (NYSE:NEM)

Rahlfs Capital LLC purchased a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,375 shares of the basic materials company's stock, valued at approximately $609,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp grew its stake in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after acquiring an additional 797,445 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank purchased a new position in Newmont in the fourth quarter worth $626,074,000. Amundi boosted its position in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after buying an additional 1,507,708 shares during the last quarter. Finally, Ruffer LLP lifted its holdings in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company's stock valued at $263,706,000 after buying an additional 1,164,870 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on NEM. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 target price for the company. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Royal Bank of Canada lifted their price objective on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. Finally, Raymond James raised their price target on Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.09.

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Newmont Stock Performance

Shares of NYSE:NEM traded up $2.39 during trading on Wednesday, hitting $47.35. 9,821,074 shares of the company traded hands, compared to its average volume of 9,706,310. The stock has a market capitalization of $53.37 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $36.60 and a one 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 business's fifty day moving average is $45.55 and its 200-day moving average is $45.09.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. Newmont's payout ratio is 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 that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company'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 $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 over the last ninety days. 0.05% of the stock is currently owned by insiders.

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.