549,281 Shares in Newmont Co. (NYSE:NEM) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 549,281 shares of the basic materials company’s stock, valued at approximately $20,444,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Newmont by 10.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company’s stock worth $4,775,000 after acquiring an additional 8,449 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Newmont by 14.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 152,118 shares of the basic materials company’s stock worth $8,131,000 after acquiring an additional 18,895 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Newmont during the 3rd quarter worth $28,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Newmont during the 3rd quarter worth $1,079,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 1.1 %

Newmont stock opened at $47.23 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $44.10 and a two-hundred day moving average price of $45.58. The firm has a market capitalization of $53.22 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52-week low of $33.86 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 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 during the quarter, compared to analyst estimates of $5.32 billion. Sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the sale, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s 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 sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank decreased their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.16.

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.