Royal London Asset Management Ltd. Buys 22,682 Shares of Newmont Co. (NYSE:NEM)

Royal London Asset Management Ltd. lifted its stake in Newmont Co. (NYSE:NEM) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 497,828 shares of the basic materials company’s stock after purchasing an additional 22,682 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Newmont were worth $18,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Avior Wealth Management LLC raised its holdings in Newmont by 191.8% in the 3rd 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 last quarter. Prospera Private Wealth LLC purchased a new position in Newmont in the 3rd quarter worth approximately $28,000. HHM Wealth Advisors LLC raised its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Promus Capital LLC purchased a new position in Newmont in the 4th quarter worth approximately $38,000. Finally, McIlrath & Eck LLC raised its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In 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 brokerages recently weighed in on NEM. The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Down 1.1 %

NYSE:NEM opened at $47.23 on Friday. 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 firm has a market capitalization of $53.22 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $33.77 and a one year high of $58.72. The business has a fifty day moving average price of $44.10 and a 200-day moving average price of $45.63.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Sell-side analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 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.