Sciencast Management LP Grows Position in Newmont Co. (NYSE:NEM)

Sciencast Management LP lifted its position in Newmont Co. (NYSE:NEM) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,859 shares of the basic materials company’s stock after purchasing an additional 2,404 shares during the period. Sciencast Management LP’s holdings in Newmont were worth $2,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NEM. Sanctuary Advisors LLC raised its stake 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 raised its position in shares of 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 during the last quarter. Assenagon Asset Management S.A. lifted its stake 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 buying an additional 865,213 shares in the last quarter. Brookstone Capital Management acquired a new stake in Newmont in the 4th quarter worth about $245,000. Finally, Moody National Bank Trust Division raised its holdings in shares of Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 2,645 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Down 1.1 %

Shares of NYSE:NEM opened at $47.23 on Friday. The company has a 50 day moving average of $44.10 and a 200-day moving average of $45.63. 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 has a market cap of $53.22 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a twelve month low of $33.77 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping 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 company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.12%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

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.