HM Payson & Co. Has $100,000 Stake in Newmont Co. (NYSE:NEM)

HM Payson & Co. grew its holdings in Newmont Co. (NYSE:NEM) by 5,900.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,700 shares of the basic materials company’s stock after acquiring an additional 2,655 shares during the period. HM Payson & Co.’s holdings in Newmont were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Studio Investment Management LLC lifted its position in shares of Newmont by 29.4% in the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after buying an additional 261 shares during the last quarter. Confluence Investment Management LLC lifted its position in shares of Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after buying an additional 281 shares during the last quarter. Howard Capital Management Inc. lifted its position in shares of Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after buying an additional 292 shares during the last quarter. Fiduciary Financial Group LLC lifted its position in shares of Newmont by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after buying an additional 303 shares during the last quarter. Finally, Conning Inc. lifted its position in shares of Newmont by 6.0% in the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock valued at $203,000 after buying an additional 311 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Newmont stock opened at $43.88 on Monday. The stock’s fifty day moving average price is $42.53 and its two-hundred day moving average price is $45.99. Newmont Co. has a one year low of $33.29 and a one 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 cap of $49.44 billion, a PE ratio of 14.98, 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 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 the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of 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. In the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NEM shares. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Company 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.