Minneapolis Portfolio Management Group LLC Acquires 3,317 Shares of Newmont Co. (NYSE:NEM)

Minneapolis Portfolio Management Group LLC grew its holdings in Newmont Co. (NYSE:NEM) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 676,076 shares of the basic materials company’s stock after purchasing an additional 3,317 shares during the period. Newmont comprises about 3.3% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 16th biggest holding. Minneapolis Portfolio Management Group LLC owned 0.06% of Newmont worth $25,164,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NEM. Avior Wealth Management LLC lifted its position in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. McIlrath & Eck LLC grew 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 valued at $43,000 after buying an additional 361 shares during the last quarter. HHM Wealth Advisors LLC grew its stake in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $38,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $43,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.1 %

Shares of NEM opened at $47.23 on Monday. The firm has a market cap of $53.24 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company’s fifty day moving average is $44.10 and its two-hundred day moving average is $45.54. Newmont Co. has a fifty-two week low of $33.86 and a fifty-two week high of $58.72. 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 quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 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 $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 in the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Raymond James decreased their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

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.