Concurrent Investment Advisors LLC Acquires 6,549 Shares of Newmont Co. (NYSE:NEM)

Concurrent Investment Advisors LLC lifted its holdings in Newmont Co. (NYSE:NEM) by 23.6% in the fourth quarter, HoldingsChannel reports. The fund owned 34,347 shares of the basic materials company’s stock after buying an additional 6,549 shares during the period. Concurrent Investment Advisors LLC’s holdings in Newmont were worth $1,278,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in shares of Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC raised its holdings in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after buying an additional 326,243 shares during the last quarter. FMR LLC raised its holdings in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares during the last quarter. Ninety One UK Ltd raised its holdings in Newmont by 27.5% during the 4th quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock valued at $128,649,000 after buying an additional 744,718 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Newmont by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after buying an additional 9,500 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 5.9 %

NYSE:NEM opened at $45.25 on Friday. The firm’s 50-day moving average price is $41.56 and its 200-day moving average price is $46.45. The company has a market capitalization of $51.52 billion, a PE ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. 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 Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

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, topping analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion for 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, equities analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, CLSA initiated coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.37.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were 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 $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

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.