Newmont Co. (NYSE:NEM) Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its holdings in Newmont Co. (NYSE:NEM) by 76.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 999,815 shares of the basic materials company’s stock after purchasing an additional 433,994 shares during the quarter. Korea Investment CORP owned about 0.09% of Newmont worth $37,213,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. HHM Wealth Advisors LLC raised its stake in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of Newmont during the fourth quarter worth approximately $38,000. McIlrath & Eck LLC grew its position in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Newmont in the 4th quarter valued at $43,000. Finally, Assetmark Inc. raised its position in Newmont by 185.9% during the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after buying an additional 820 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 0.7 %

Shares of NEM stock opened at $48.06 on Friday. The company has a market capitalization of $54.17 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $44.78 and a 200 day moving average price of $45.50. Newmont Co. has a twelve month low of $36.10 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion for 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%. Research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.08%. Newmont’s payout ratio is currently 34.13%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the firm’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 $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares in the company, 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. Over the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is owned by company insiders.

Newmont Company 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.