Rahlfs Capital LLC Invests $609,000 in Newmont Co. (NYSE:NEM)

Rahlfs Capital LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,375 shares of the basic materials company’s stock, valued at approximately $609,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp grew its holdings 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 valued at $1,851,606,000 after buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank purchased a new position in shares of Newmont in the fourth quarter worth $626,074,000. Amundi raised its stake in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Finally, Ruffer LLP boosted its position in shares of Newmont by 19.7% during the fourth quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after buying an additional 1,164,870 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Newmont Trading Down 8.4 %

Newmont stock opened at $44.25 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm’s 50 day moving average price is $45.34 and its 200-day moving average price is $45.33. Newmont Co. has a 1 year low of $36.60 and a 1 year high of $58.72. The stock has a market cap of $49.88 billion, a P/E ratio of 15.10, a PEG ratio of 0.41 and a beta of 0.54.

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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NEM shares. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. TD Securities lowered their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Finally, National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.09.

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.