Headlands Technologies LLC Purchases New Shares in Newmont Co. (NYSE:NEM)

Headlands Technologies LLC acquired a new position in Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 35,277 shares of the basic materials company’s stock, valued at approximately $1,313,000.

Several other hedge funds have also recently made changes to their positions in NEM. Van ECK Associates Corp increased its stake in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC raised its holdings in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after buying an additional 1,213,397 shares during the period. Norges Bank bought a new stake in Newmont in the fourth quarter worth $626,074,000. Amundi boosted its stake in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after buying an additional 1,507,708 shares during the period. Finally, Ruffer LLP increased its position in Newmont by 19.7% during the fourth quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after acquiring an additional 1,164,870 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NEM. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. Scotiabank dropped 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. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insider Activity

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

Newmont Price Performance

NYSE NEM opened at $48.29 on Wednesday. The company has a market cap of $54.44 billion, a PE ratio of 16.48, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52-week low of $36.44 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. The firm’s 50 day moving average price is $45.03 and its 200-day moving average price is $45.35.

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, beating analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion for 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%. Sell-side analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Newmont Company 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.