Polianta Ltd Purchases Shares of 30,200 Newmont Co. (NYSE:NEM)

Polianta Ltd acquired a new position in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 30,200 shares of the basic materials company’s stock, valued at approximately $1,124,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Zurich Insurance Group Ltd FI bought a new position in shares of Newmont during the third quarter valued at about $98,011,000. Nordea Investment Management AB lifted its position 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. FMR LLC boosted its stake in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after acquiring an additional 1,096,905 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Newmont by 29.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock valued at $197,976,000 after acquiring an additional 1,074,623 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, 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 at this hyperlink. Also, 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 completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Newmont Trading Up 0.2 %

NEM stock opened at $41.72 on Friday. The stock has a 50-day simple moving average of $40.29 and a two-hundred day simple moving average of $46.83. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. 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 (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the firm posted $0.36 EPS. Newmont’s revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Co. will post 3.12 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NEM. Jefferies Financial Group upped their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Finally, Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

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.