6,561 Shares in Newmont Co. (NYSE:NEM) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,561 shares of the basic materials company's stock, valued at approximately $244,000.

Other hedge funds have also bought and sold shares of the company. Townsquare Capital LLC increased its position in Newmont by 31.4% during the 4th quarter. Townsquare Capital LLC now owns 30,613 shares of the basic materials company's stock worth $1,139,000 after purchasing an additional 7,314 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Newmont by 4.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 404,700 shares of the basic materials company's stock worth $15,063,000 after buying an additional 19,042 shares during the period. Sterling Capital Management LLC lifted its holdings in Newmont by 1,532.6% during the 4th quarter. Sterling Capital Management LLC now owns 84,193 shares of the basic materials company's stock worth $3,134,000 after buying an additional 79,036 shares during the period. Argent Trust Co increased its position in Newmont by 61.7% during the 4th quarter. Argent Trust Co now owns 42,169 shares of the basic materials company's stock valued at $1,570,000 after purchasing an additional 16,094 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Newmont by 2.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 697,005 shares of the basic materials company's stock valued at $25,943,000 after purchasing an additional 18,860 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Down 1.6 %

NYSE NEM traded down $0.87 during trading hours on Friday, reaching $55.08. 14,364,376 shares of the company's stock traded hands, compared to its average volume of 9,878,623. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72. 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 firm has a 50-day simple moving average of $47.14 and a 200 day simple moving average of $45.07. The firm has a market cap of $62.08 billion, a PE ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54.

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

Newmont Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's dividend payout ratio is 34.13%.

Analysts Set New Price Targets

NEM has been the topic of a number of recent research reports. Raymond James increased their target price on Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. BMO Capital Markets began coverage on shares of Newmont in a research report on Wednesday. They set an "outperform" rating and a $63.00 target price for the company. Finally, National Bank Financial upgraded Newmont to a "hold" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and a consensus price target of $55.02.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the sale, the chief operating officer now directly owns 136,967 shares of the company's stock, valued at $5,874,514.63. This represents a 6.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,154 shares of company stock valued at $825,678. 0.05% of the stock is 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.