Newmont Co. (NYSE:NEM) Position Raised by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its position in shares of Newmont Co. (NYSE:NEM) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 697,005 shares of the basic materials company’s stock after purchasing an additional 18,860 shares during the quarter. Treasurer of the State of North Carolina owned 0.06% of Newmont worth $25,943,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Newmont in the 4th quarter worth approximately $626,074,000. Renaissance Technologies LLC bought a new position in shares of Newmont in the fourth quarter valued at $76,281,000. Invesco Ltd. lifted its position in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after acquiring an additional 2,028,150 shares during the last quarter. Allianz SE acquired a new stake in shares of Newmont during the 4th quarter valued at $65,385,000. Finally, Nordea Investment Management AB boosted its stake in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 4.7 %

Shares of NEM stock opened at $51.06 on Friday. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72. The company has a market capitalization of $57.55 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The firm has a 50 day moving average price of $45.94 and a two-hundred day moving average price of $45.05. 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 (NYSE:NEM) last announced its 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. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEM. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Scotiabank decreased their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. National Bank Financial upgraded Newmont to a “hold” rating in a report on Friday, March 21st. Raymond James lifted their price target on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Finally, Royal Bank of Canada increased their price objective on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.09.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at $3,782,051.46. The trade was a 3.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. The trade was a 6.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. Insiders own 0.05% of the company’s stock.

About Newmont

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.