OFI Invest Asset Management Acquires Shares of 36,473 Newmont Co. (NYSE:NEM)

OFI Invest Asset Management acquired a new stake in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 36,473 shares of the basic materials company’s stock, valued at approximately $1,311,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd raised its stake in shares of Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares in the last quarter. 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 in the last quarter. Nordea Investment Management AB raised its stake 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 buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares in the last quarter. Finally, Brookstone Capital Management purchased a new position in shares of Newmont during the 4th quarter worth approximately $245,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

NEM stock opened at $43.88 on Monday. 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 stock has a market capitalization of $49.44 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The stock’s fifty day simple moving average is $42.53 and its 200-day simple moving average is $45.99. Newmont Co. has a 52-week low of $33.29 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEM. CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. 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. Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

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.