Newmont Co. (NYSE:NEM) is Ruffer LLP’s Largest Position

Ruffer LLP grew its stake in Newmont Co. (NYSE:NEM) by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,085,101 shares of the basic materials company’s stock after purchasing an additional 1,164,870 shares during the quarter. Newmont makes up approximately 9.5% of Ruffer LLP’s holdings, making the stock its biggest holding. Ruffer LLP owned about 0.62% of Newmont worth $263,706,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC raised its stake in Newmont by 191.8% during the third 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 during the period. Prospera Private Wealth LLC bought a new position in shares of Newmont in the third quarter valued at approximately $28,000. McIlrath & Eck LLC boosted its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Newmont in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Raymond James decreased their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada raised their price target 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. Bernstein Bank lifted their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Down 0.1 %

Shares of NYSE:NEM opened at $43.88 on Friday. Newmont Co. has a one year low of $33.29 and a one year high of $58.72. The company has a 50 day moving average of $42.53 and a 200-day moving average of $46.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market cap of $49.44 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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. The firm had revenue of $5.65 billion during 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%. On average, sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company 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. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 over the last ninety days. 0.06% of the stock is currently owned by company 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.