Andra AP fonden Invests $1.90 Million in Newmont Co. (NYSE:NEM)

Andra AP fonden bought a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 51,100 shares of the basic materials company’s stock, valued at approximately $1,902,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Studio Investment Management LLC raised its position in Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after buying an additional 261 shares during the period. Confluence Investment Management LLC raised its position in Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after buying an additional 281 shares during the period. Howard Capital Management Inc. raised its position in Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after buying an additional 292 shares during the period. Fiduciary Financial Group LLC raised its position in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after buying an additional 303 shares during the period. Finally, Conning Inc. raised its position in Newmont by 6.0% during the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock valued at $203,000 after buying an additional 311 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Natascha Viljoen sold 9,000 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 value of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last 90 days. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEM. 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. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada upped their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Finally, CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Performance

NEM opened at $43.88 on Monday. The company has a market cap of $49.44 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The stock has a 50-day moving average of $42.53 and a 200-day moving average of $45.99. Newmont Co. has a 52-week low of $33.29 and a 52-week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (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 the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, equities research analysts forecast 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 will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. Newmont’s dividend payout ratio (DPR) is presently 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.