New Age Alpha Advisors LLC Buys Shares of 118,556 Newmont Co. (NYSE:NEM)

New Age Alpha Advisors LLC bought a new position in Newmont Co. (NYSE:NEM) in the fourth quarter, Holdings Channel.com reports. The firm bought 118,556 shares of the basic materials company’s stock, valued at approximately $4,413,000.

A number of other institutional investors have also added to or reduced their stakes in NEM. HHM Wealth Advisors LLC grew its stake in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares during the last quarter. Promus Capital LLC bought a new stake in Newmont during the 4th quarter worth $38,000. McIlrath & Eck LLC increased its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares in the last quarter. Kestra Investment Management LLC bought a new position in Newmont in the fourth quarter valued at about $43,000. Finally, Assetmark Inc. boosted its stake in shares of Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 820 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE NEM opened at $48.06 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $44.78 and its 200-day moving average price is $45.50. The firm has a market capitalization of $54.17 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1-year low of $36.10 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last announced 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 business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid 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 yield of 2.08%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insiders Place Their Bets

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,231 shares of company stock worth $1,388,758. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NEM shares. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. 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 price objective on the stock. Scotiabank lowered their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight 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 has an average rating of “Moderate Buy” and an average price target of $53.16.

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.