Drum Hill Capital LLC Acquires Shares of 52,959 Newmont Co. (NYSE:NEM)

Drum Hill Capital LLC acquired a new stake in Newmont Co. (NYSE:NEM) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 52,959 shares of the basic materials company’s stock, valued at approximately $1,971,000. Newmont makes up about 2.4% of Drum Hill Capital LLC’s portfolio, making the stock its 15th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Waverton Investment Management Ltd boosted its position in Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after purchasing an additional 65,075 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the period. Nordea Investment Management AB grew its stake in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Newmont by 57.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC bought a new position in Newmont in the 3rd quarter valued at about $1,263,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares of the company’s stock, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 over the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. CLSA assumed coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. Finally, UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.37.

Newmont Stock Performance

NYSE NEM opened at $45.25 on Friday. The firm’s 50 day simple moving average is $41.56 and its 200 day simple moving average is $46.46. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of -29.77, a P/E/G ratio of 0.40 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last released 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. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, research analysts expect that Newmont Co. will post 3.11 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is presently -65.79%.

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.