Fisher Funds Management LTD Buys Shares of 82,910 Newmont Co. (NYSE:NEM)

Fisher Funds Management LTD bought a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 82,910 shares of the basic materials company’s stock, valued at approximately $3,083,000.

Several other institutional investors also recently modified their holdings of the stock. Avior Wealth Management LLC grew its position in Newmont by 191.8% during 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 bought a new stake in shares of Newmont during the third quarter worth about $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont in the third quarter valued at approximately $32,000. HHM Wealth Advisors LLC increased its position in Newmont by 66.0% in 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 period. Finally, McIlrath & Eck LLC raised its stake in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on NEM. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. UBS Group lowered 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 note on Wednesday, October 30th. Raymond James decreased their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Royal Bank of Canada boosted their price target 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Stock Down 5.9 %

Shares of NYSE:NEM opened at $45.25 on Monday. 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 Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The business’s 50 day simple moving average is $41.56 and its two-hundred day simple moving average is $46.45. The firm has a market cap of $51.52 billion, a P/E ratio of 15.44, a PEG ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last posted its quarterly earnings results 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. 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 the consensus estimate of $5.32 billion. As a group, research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm 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. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Newmont’s dividend payout ratio is presently 34.13%.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by corporate insiders.

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.