Horizon Investments LLC Has $740,000 Stock Position in Newmont Co. (NYSE:NEM)

Horizon Investments LLC increased its holdings in shares of Newmont Co. (NYSE:NEM) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,885 shares of the basic materials company’s stock after buying an additional 317 shares during the quarter. Horizon Investments LLC’s holdings in Newmont were worth $740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Zurich Insurance Group Ltd FI acquired a new stake in shares of Newmont during the third quarter worth about $98,011,000. Nordea Investment Management AB increased its stake in Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. Amundi raised its holdings in Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after buying an additional 1,507,708 shares during the period. FMR LLC lifted its stake in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Finally, Ruffer LLP boosted its holdings in shares of Newmont by 19.7% in 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 period. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on NEM shares. CLSA started coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. The Goldman Sachs Group assumed 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. Raymond James decreased their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Royal Bank of Canada raised their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,231 shares of company stock valued at $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.4 %

Newmont stock opened at $48.00 on Thursday. The firm has a 50 day moving average price of $43.76 and a two-hundred day moving average price of $45.66. 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 $33.29 and a 52-week high of $58.72. The firm has a market cap of $54.09 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its 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 for the quarter, compared to analyst estimates of $5.32 billion. Equities analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared 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 yield of 2.08%. Newmont’s 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.