Bridgewater Associates LP Has $52.33 Million Stock Position in Newmont Co. (NYSE:NEM)

Bridgewater Associates LP grew its holdings in Newmont Co. (NYSE:NEM) by 97.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,405,888 shares of the basic materials company’s stock after purchasing an additional 694,297 shares during the period. Bridgewater Associates LP owned about 0.12% of Newmont worth $52,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC increased its stake in Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after buying an additional 18,722 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after acquiring an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Brookstone Capital Management bought a new stake in Newmont during the fourth quarter worth about $245,000. Finally, Moody National Bank Trust Division boosted its position in Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 2,645 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 0.4 %

NEM stock opened at $54.76 on Tuesday. Newmont Co. has a 52 week low of $36.60 and a 52 week high of $58.72. The company has a market capitalization of $61.73 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company’s 50-day simple moving average is $46.36 and its 200 day simple moving average is $44.98. 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 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. 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 analyst estimates of $5.32 billion. As a group, sell-side 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. Shareholders of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.83%. Newmont’s dividend payout ratio is presently 34.13%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 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 transaction of $386,010.00. Following the sale, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. This represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NEM shares. Royal Bank of Canada upped 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. Raymond James increased their price target on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $60.00 in a research note on Friday. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.55.

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.