Whipplewood Advisors LLC Acquires Shares of 2,118 Newmont Co. (NYSE:NEM)

Whipplewood Advisors LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,118 shares of the basic materials company’s stock, valued at approximately $79,000.

Other hedge funds have also added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its position in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after purchasing an additional 65,075 shares during the period. Sanctuary Advisors LLC grew its position in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the period. Nordea Investment Management AB grew its position 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 worth $92,832,000 after buying an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Newmont by 57.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC purchased a new stake in shares of Newmont in the 3rd quarter worth about $1,263,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the 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 $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the 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 $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock worth $1,166,843 in the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM opened at $42.83 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market capitalization of $48.26 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.41 and a beta of 0.52. The company’s 50-day simple moving average is $42.01 and its two-hundred day simple moving average is $46.30. Newmont Co. has a 52-week low of $30.93 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations 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 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NEM shares. Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to 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.