Los Angeles Capital Management LLC Purchases 1,357 Shares of Newmont Co. (NYSE:NEM)

Los Angeles Capital Management LLC boosted its position in shares of Newmont Co. (NYSE:NEM) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 214,444 shares of the basic materials company’s stock after acquiring an additional 1,357 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Newmont were worth $7,982,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NEM. Avior Wealth Management LLC lifted its stake in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in Newmont during the third quarter valued at approximately $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the third quarter worth approximately $32,000. McIlrath & Eck LLC boosted its stake in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Raymond James decreased their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Up 1.5 %

NEM stock opened at $43.55 on Thursday. The firm has a fifty day moving average price of $41.82 and a 200 day moving average price of $46.37. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm has a market cap of $49.58 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. 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 posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s 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 transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by insiders.

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.