Meeder Asset Management Inc. Purchases 34,412 Shares of Newmont Co. (NYSE:NEM)

Meeder Asset Management Inc. increased its position in Newmont Co. (NYSE:NEM) by 5,206.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,073 shares of the basic materials company’s stock after purchasing an additional 34,412 shares during the quarter. Meeder Asset Management Inc.’s holdings in Newmont were worth $1,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC grew its holdings in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares during the period. Norges Bank bought a new stake in shares of Newmont during the 4th quarter valued at $626,074,000. Amundi lifted its stake in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the period. Finally, Ruffer LLP boosted its position in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after purchasing an additional 1,164,870 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Natascha Viljoen sold 9,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the firm’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 $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Royal Bank of Canada boosted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. One investment 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 company. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Down 0.7 %

NYSE NEM opened at $48.06 on Monday. The stock 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. Newmont Co. has a 52 week low of $36.10 and a 52 week high of $58.72. The stock’s 50 day moving average price is $44.78 and its two-hundred day moving average price is $45.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

About Newmont

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.