Fox Run Management L.L.C. Makes New Investment in Newmont Co. (NYSE:NEM)

Fox Run Management L.L.C. purchased a new stake in Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,920 shares of the basic materials company’s stock, valued at approximately $630,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Newmont by 19.4% in the third quarter. Raymond James Trust N.A. now owns 11,318 shares of the basic materials company’s stock valued at $605,000 after purchasing an additional 1,836 shares during the period. Meridian Wealth Management LLC acquired a new stake in Newmont during the third quarter worth about $678,000. Nwam LLC purchased a new position in Newmont during the third quarter worth about $440,000. Finally, Cerity Partners LLC boosted its holdings in Newmont by 49.3% in the 3rd quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company’s stock valued at $3,129,000 after purchasing an additional 19,321 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEM. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Finally, StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Down 1.2 %

Shares of NEM stock opened at $46.81 on Tuesday. The company has a market capitalization of $52.76 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. 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 50 day moving average is $44.25 and its two-hundred day moving average is $45.50. Newmont Co. has a twelve month low of $33.86 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 17.92% and a return on equity of 13.52%. Equities analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.14%. Newmont’s dividend payout ratio is currently 34.13%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value 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. This trade represents a 3.35 % decrease in their position. The sale 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 business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.