National Pension Service Buys 298,467 Shares of Newmont Co. (NYSE:NEM)

National Pension Service raised its stake in Newmont Co. (NYSE:NEM) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,831,544 shares of the basic materials company’s stock after buying an additional 298,467 shares during the quarter. National Pension Service owned about 0.25% of Newmont worth $105,390,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Carmel Capital Partners LLC lifted its stake in Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares in the last quarter. Studio Investment Management LLC lifted its stake in Newmont by 29.4% in the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after buying an additional 261 shares in the last quarter. Confluence Investment Management LLC lifted its stake in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after buying an additional 281 shares in the last quarter. Howard Capital Management Inc. lifted its stake in Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after buying an additional 292 shares in the last quarter. Finally, Fiduciary Financial Group LLC lifted its stake in Newmont by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after buying an additional 303 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $43.55 on Thursday. 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’s fifty day moving average price is $41.82 and its two-hundred day moving average price is $46.37. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a market capitalization of $49.58 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. As a group, research analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Newmont’s dividend payout ratio is currently 34.13%.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company’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 $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at $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. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 over the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NEM shares. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada boosted 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. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

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.