Russell Investments Group Ltd. Grows Stock Position in Newmont Co. (NYSE:NEM)

Russell Investments Group Ltd. raised its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,031,770 shares of the basic materials company's stock after buying an additional 279,590 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Newmont worth $75,477,000 at the end of the most recent quarter.

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

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Newmont Stock Performance

Shares of NYSE NEM traded up $1.84 during trading hours on Wednesday, reaching $46.80. The stock had a trading volume of 7,821,456 shares, compared to its average volume of 9,697,686. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The firm has a 50-day moving average of $45.55 and a 200-day moving average of $45.09. The firm has a market cap of $52.75 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 0.41 and a beta of 0.54.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

Analyst Ratings Changes

A number of brokerages have issued reports on NEM. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. Raymond James boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada upped their target price on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. 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 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.09.

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.