Newmont Co. (NYSE:NEM) Stock Position Lifted by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 0.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 676,076 shares of the basic materials company’s stock after purchasing an additional 3,317 shares during the period. Newmont comprises approximately 3.3% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 16th largest position. Minneapolis Portfolio Management Group LLC’s holdings in Newmont were worth $25,164,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NEM. Van ECK Associates Corp boosted its holdings in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after buying an additional 797,445 shares during the period. Geode Capital Management LLC raised its stake in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after purchasing an additional 326,243 shares during the last quarter. Amundi raised its stake in shares of Newmont by 14.0% in the 4th 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 in the last quarter. Ruffer LLP raised its stake 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 in the last quarter. Finally, FMR LLC increased its position in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. TD Securities cut their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Transactions at Newmont

In related 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 value of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the 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 $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by insiders.

Newmont Price Performance

NYSE:NEM opened at $47.23 on Monday. 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’s fifty day moving average price is $44.10 and its two-hundred day moving average price is $45.54. Newmont Co. has a one year low of $33.86 and a one year high of $58.72. The company has a market cap of $53.24 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released 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 business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Newmont’s dividend payout ratio (DPR) is currently 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.