6,260 Shares in Newmont Co. (NYSE:NEM) Bought by Olympiad Research LP

Olympiad Research LP acquired a new position in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 6,260 shares of the basic materials company’s stock, valued at approximately $233,000.

A number of other institutional investors also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC boosted its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in Newmont during the 3rd quarter worth $28,000. Highline Wealth Partners LLC acquired a new position in Newmont during the 3rd quarter worth $32,000. HHM Wealth Advisors LLC boosted its position in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the period. Finally, McIlrath & Eck LLC boosted its position in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 5.9 %

NYSE:NEM opened at $45.25 on Monday. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.41 and a beta of 0.52. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. 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 business’s fifty day moving average price is $41.56 and its 200 day moving average price is $46.45.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm 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%. On average, sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CLSA assumed coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. 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 objective for the company. Finally, Bernstein Bank upped their price objective on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.37.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’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 $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the company’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 $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 in the last three months. Insiders own 0.06% of the company’s stock.

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.