Two Sigma Advisers LP Has $47.41 Million Position in Newmont Co. (NYSE:NEM)

Two Sigma Advisers LP grew its stake in shares of Newmont Co. (NYSE:NEM) by 111.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,273,776 shares of the basic materials company’s stock after purchasing an additional 672,500 shares during the period. Two Sigma Advisers LP’s holdings in Newmont were worth $47,410,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NEM. Norges Bank acquired a new position in shares of Newmont during the fourth quarter valued at about $626,074,000. Capital Research Global Investors raised its position in shares of Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock valued at $210,105,000 after buying an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Newmont in the fourth quarter valued at about $76,281,000. Invesco Ltd. increased its stake in Newmont by 23.9% in the fourth 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 period. Finally, Allianz SE bought a new stake in Newmont in the fourth quarter valued at about $65,385,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the 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 $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock valued at $328,840 over the last three months. 0.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEM. Cfra Research raised shares of Newmont to a “strong-buy” rating in a research note on Friday, April 25th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and upped their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Raymond James reissued an “outperform” rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. Royal Bank of Canada upped their target price on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. Finally, Scotiabank reissued a “sector perform” rating on shares of Newmont in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.52.

Newmont Price Performance

Shares of Newmont stock opened at $50.91 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $56.66 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The firm’s 50-day moving average price is $50.48 and its two-hundred day moving average price is $45.00.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. Newmont’s dividend payout ratio (DPR) is currently 22.42%.

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.