16,375 Shares in Newmont Co. (NYSE:NEM) Purchased by Rahlfs Capital LLC

Rahlfs Capital LLC purchased a new stake in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 16,375 shares of the basic materials company’s stock, valued at approximately $609,000.

A number of other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in Newmont by 1.6% during the 4th 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 acquiring an additional 797,445 shares during the period. Geode Capital Management LLC lifted its position in shares of Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank purchased a new stake in shares of Newmont during the fourth quarter valued at $626,074,000. Amundi grew its holdings in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Finally, Ruffer LLP increased its stake in Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $44.25 on Friday. The business has a fifty day moving average of $45.34 and a 200 day moving average of $45.33. Newmont Co. has a 1 year low of $36.60 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. The firm has a market capitalization of $49.88 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analyst Ratings Changes

A number of equities analysts have recently commented 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. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their price target on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.09.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is owned by insiders.

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.