Dimensional Fund Advisors LP Buys 630,031 Shares of Newmont Co. (NYSE:NEM)

Dimensional Fund Advisors LP boosted its stake in Newmont Co. (NYSE:NEM) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,571,240 shares of the basic materials company’s stock after purchasing an additional 630,031 shares during the period. Dimensional Fund Advisors LP’s holdings in Newmont were worth $281,797,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. HighPoint Advisor Group LLC raised its holdings in Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 219 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after acquiring an additional 281 shares during the last quarter. Howard Capital Management Inc. increased its position in shares of Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 292 shares during the last quarter. Intact Investment Management Inc. grew its position in Newmont by 21.4% during the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 300 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its holdings in shares of Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 303 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $55.08 on Monday. The company’s 50 day moving average is $47.14 and its 200 day moving average is $45.02. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market cap of $62.08 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. On average, sell-side analysts anticipate that Newmont Co. will post 3.45 EPS 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now owns 136,967 shares of the company’s stock, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,154 shares of company stock worth $825,678. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of several analyst reports. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Royal Bank of Canada raised their target price on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. Raymond James lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. TD Securities dropped 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. Finally, UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.02.

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.