549,281 Shares in Newmont Co. (NYSE:NEM) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in Newmont Co. (NYSE:NEM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 549,281 shares of the basic materials company’s stock, valued at approximately $20,444,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC raised its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Newmont during the third quarter valued at approximately $28,000. McIlrath & Eck LLC raised its holdings 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 period. HHM Wealth Advisors LLC raised its holdings in shares of Newmont by 66.0% during the fourth 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, Promus Capital LLC acquired a new stake in shares of Newmont during the fourth quarter valued at approximately $38,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NEM opened at $47.23 on Friday. The company’s fifty day moving average is $44.10 and its 200-day moving average is $45.58. Newmont Co. has a 12 month low of $33.86 and a 12 month high of $58.72. The firm has a market cap of $53.22 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. Newmont’s payout ratio is presently 34.13%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NEM. TD Securities cut their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. CLSA started coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. Raymond James lowered 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. Scotiabank lowered their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Company 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.