Drum Hill Capital LLC Acquires Shares of 52,959 Newmont Co. (NYSE:NEM)

Drum Hill Capital LLC bought a new position in Newmont Co. (NYSE:NEM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 52,959 shares of the basic materials company’s stock, valued at approximately $1,971,000. Newmont comprises about 2.4% of Drum Hill Capital LLC’s investment portfolio, making the stock its 15th biggest holding.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after buying an additional 797,445 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares in the last quarter. FMR LLC grew its position in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of Newmont by 27.5% during the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after purchasing an additional 744,718 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Newmont by 0.3% during the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after purchasing an additional 9,500 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Royal Bank of Canada lifted their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One investment 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 company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Newmont Stock Performance

NEM opened at $45.25 on Friday. The company has a market capitalization of $51.52 billion, a price-to-earnings ratio of -29.77, a P/E/G ratio of 0.40 and a beta of 0.52. The business’s 50-day moving average price is $41.56 and its two-hundred day moving average price is $46.46. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its 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. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business 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 3.11 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. 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 -65.79%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,154 shares of company stock valued at $1,166,843. Corporate 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.