Renaissance Technologies LLC Takes $76.28 Million Position in Newmont Co. (NYSE:NEM)

Renaissance Technologies LLC purchased a new stake in Newmont Co. (NYSE:NEM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,049,474 shares of the basic materials company’s stock, valued at approximately $76,281,000. Renaissance Technologies LLC owned 0.18% of Newmont as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. HHM Wealth Advisors LLC lifted its holdings 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 valued at $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC purchased a new position in Newmont in the fourth quarter valued at about $38,000. McIlrath & Eck LLC lifted its stake in shares of 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 purchasing an additional 361 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Newmont in the fourth quarter worth about $43,000. Finally, Assetmark Inc. grew its stake in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after buying an additional 820 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NEM. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued 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. Royal Bank of Canada raised their target price on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. Finally, TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $54.09.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 in the last quarter. Insiders own 0.05% of the company’s stock.

Newmont Stock Up 8.5 %

NEM stock opened at $48.77 on Thursday. The business’s fifty day moving average price is $45.78 and its two-hundred day moving average price is $45.08. The stock has a market capitalization of $54.97 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, equities analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

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.