Phoenix Financial Ltd. Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Phoenix Financial Ltd. boosted its stake in Newmont Co. (NYSE:NEM) by 35.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,668 shares of the basic materials company’s stock after acquiring an additional 2,807 shares during the period. Phoenix Financial Ltd.’s holdings in Newmont were worth $397,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Newmont in the fourth quarter valued at about $626,074,000. Renaissance Technologies LLC bought a new stake in shares of Newmont in the 4th quarter valued at approximately $76,281,000. Invesco Ltd. raised its position in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. Allianz SE bought a new position in Newmont during the fourth quarter worth $65,385,000. Finally, Nordea Investment Management AB boosted its holdings in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and upped their target price for the company from $50.00 to $60.00 in a report on Friday. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, Raymond James boosted their price objective on Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.55.

Insider Buying and Selling 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 sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the transaction, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. The trade was a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,154 shares of company stock worth $825,678 over the last ninety days. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

NEM opened at $54.80 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $36.60 and a 12 month high of $58.72. The company has a fifty day simple moving average of $46.17 and a 200 day simple moving average of $45.04. The stock has a market cap of $61.77 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its earnings results 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont’s dividend payout ratio is 34.13%.

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.