Newmont Co. (NYSE:NEM) Shares Purchased by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC grew its position in shares of Newmont Co. (NYSE:NEM) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,175 shares of the basic materials company’s stock after acquiring an additional 2,410 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Newmont were worth $628,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its holdings in shares of Newmont by 22.3% during the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after acquiring an additional 26,599 shares during the period. Muhlenkamp & Co. Inc. acquired a new stake in Newmont in the fourth quarter worth about $5,944,000. SG Americas Securities LLC lifted its holdings in Newmont by 1,770.8% in the fourth quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock worth $2,635,000 after purchasing an additional 60,261 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Newmont by 101.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 925,742 shares of the basic materials company’s stock worth $38,316,000 after purchasing an additional 465,903 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in Newmont by 14.3% in the fourth quarter. Fulton Bank N.A. now owns 8,838 shares of the basic materials company’s stock worth $366,000 after purchasing an additional 1,107 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. Royal Bank of Canada cut their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. TD Securities cut their price target on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. UBS Group cut their price target on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, December 13th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Newmont currently has an average rating of “Hold” and a consensus price target of $52.97.

Newmont Stock Up 1.7 %

Shares of NEM traded up $0.59 during trading hours on Thursday, reaching $35.84. The company’s stock had a trading volume of 14,428,337 shares, compared to its average volume of 13,389,644. The firm has a market cap of $41.32 billion, a price-to-earnings ratio of -15.06, a P/E/G ratio of 2.91 and a beta of 0.49. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $52.76. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $33.52 and a two-hundred day moving average of $36.94.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, research analysts predict that Newmont Co. will post 1.88 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. Newmont’s dividend payout ratio is currently -42.02%.

Insider Buying and Selling

In related news, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $41.26, for a total value of $226,930.00. Following the transaction, the chief operating officer now owns 54,251 shares in the company, valued at $2,238,396.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

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.