Systematic Alpha Investments LLC Takes Position in Newmont Co. (NYSE:NEM)

Systematic Alpha Investments LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 8,855 shares of the basic materials company's stock, valued at approximately $330,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sanctuary Advisors LLC raised its position in Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after acquiring an additional 18,722 shares during the period. Nordea Investment Management AB raised its holdings in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. lifted its stake in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Brookstone Capital Management bought a new position in Newmont during the fourth quarter valued at $245,000. Finally, Moody National Bank Trust Division increased its position in Newmont by 13.6% in the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock worth $822,000 after buying an additional 2,645 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. 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 report on Tuesday, January 21st. Royal Bank of Canada upped their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday. The Goldman Sachs Group started 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. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Finally, National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.09.

Remove Ads

Insider Activity

In other news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company's stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

NYSE:NEM traded down $4.08 during trading hours on Friday, hitting $44.25. 21,146,797 shares of the company's stock traded hands, compared to its average volume of 9,653,406. The firm has a market cap of $49.88 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.41 and a beta of 0.54. 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 simple moving average is $45.34 and its two-hundred day simple moving average is $45.28. Newmont Co. has a 52 week low of $36.60 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. On average, research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's payout ratio is 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.