Blueshift Asset Management LLC Takes Position in Newmont Co. (NYSE:NEM)

Blueshift Asset Management LLC purchased a new stake in Newmont Co. (NYSE:NEM) in the fourth quarter, Holdings Channel.com reports. The fund purchased 6,877 shares of the basic materials company’s stock, valued at approximately $256,000.

Other large investors have also bought and sold shares of the company. Magnetar Financial LLC bought a new position in shares of Newmont during the fourth quarter valued at about $205,000. Teacher Retirement System of Texas lifted its position in shares of Newmont by 773.7% during the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company’s stock worth $2,511,000 after buying an additional 59,740 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Newmont by 4.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 497,828 shares of the basic materials company’s stock worth $18,529,000 after buying an additional 22,682 shares during the last quarter. Generali Investments Management Co LLC bought a new position in shares of Newmont in the fourth quarter valued at approximately $126,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Newmont by 10.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,366 shares of the basic materials company’s stock valued at $544,000 after acquiring an additional 1,397 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 33,231 shares of company stock valued at $1,388,758. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. TD Securities reduced their price target 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. Royal Bank of Canada lifted their price objective 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. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Down 1.1 %

Shares of NEM opened at $47.23 on Friday. Newmont Co. has a twelve month low of $33.77 and a twelve month high of $58.72. The stock has a market cap of $53.22 billion, a PE ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. 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 business’s 50-day moving average price is $44.10 and its 200-day moving average price is $45.63.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping 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 business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. On average, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date of this dividend 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 presently 34.13%.

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.