NEOS Investment Management LLC Has $2.53 Million Position in Newmont Co. (NYSE:NEM)

NEOS Investment Management LLC raised its position in Newmont Co. (NYSE:NEM) by 31.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 67,960 shares of the basic materials company’s stock after purchasing an additional 16,174 shares during the period. NEOS Investment Management LLC’s holdings in Newmont were worth $2,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its stake in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC bought a new stake in shares of Newmont in the fourth quarter valued at approximately $38,000. McIlrath & Eck LLC grew its position in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. Kestra Investment Management LLC bought a new position in Newmont during the 4th quarter worth $43,000. Finally, Assetmark Inc. raised its holdings in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 820 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $48.06 on Friday. The company has a market capitalization of $54.17 billion, a PE ratio of 16.40, 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. Newmont Co. has a twelve month low of $36.10 and a twelve month high of $58.72. The firm has a fifty day simple moving average of $44.78 and a 200 day simple moving average of $45.50.

Newmont (NYSE:NEM) 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 company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, sell-side analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. Newmont’s payout ratio is presently 34.13%.

Analysts Set New Price Targets

NEM has been the topic of several recent analyst reports. CLSA initiated coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada upped their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is currently owned by company 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.