Eagle Rock Investment Company LLC Has $939,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Eagle Rock Investment Company LLC boosted its position in shares of Newmont Co. (NYSE:NEM) by 4.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 19,447 shares of the basic materials company’s stock after purchasing an additional 791 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Newmont were worth $939,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after buying an additional 797,445 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after buying an additional 1,213,397 shares in the last quarter. Norges Bank acquired a new position in Newmont during the 4th quarter worth $626,074,000. Northern Trust Corp lifted its holdings in Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock worth $474,263,000 after buying an additional 1,309,177 shares in the last quarter. Finally, Amundi lifted its holdings in Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after buying an additional 1,507,708 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the transaction, the director now directly owns 47,257 shares of the company’s stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president now directly owns 77,526 shares of the company’s stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,154 shares of company stock valued at $381,539. Company insiders own 0.05% of the company’s stock.

Newmont Price Performance

NEM opened at $52.36 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. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72. The company has a fifty day simple moving average of $52.16 and a 200 day simple moving average of $45.97. The stock has a market cap of $58.28 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company earned $0.55 EPS. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s payout ratio is presently 22.42%.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent research reports. Argus set a $63.00 target price on shares of Newmont in a research report on Friday, April 25th. Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, April 25th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Raymond James reiterated an “outperform” rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $57.68.

About Newmont

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.