Olympiad Research LP Takes Position in Newmont Co. (NYSE:NEM)

Olympiad Research LP purchased a new stake in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,260 shares of the basic materials company’s stock, valued at approximately $233,000.

Several other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its position in Newmont by 35.4% in the third quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 3,498 shares during the period. International Assets Investment Management LLC raised its position in Newmont by 6,387.0% in the third quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after purchasing an additional 964,815 shares during the period. Silver Oak Securities Incorporated raised its position in Newmont by 914.5% in the third quarter. Silver Oak Securities Incorporated now owns 12,834 shares of the basic materials company’s stock valued at $692,000 after purchasing an additional 11,569 shares during the period. Ballentine Partners LLC increased its position in shares of Newmont by 12.5% during the third quarter. Ballentine Partners LLC now owns 15,784 shares of the basic materials company’s stock worth $844,000 after acquiring an additional 1,754 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in Newmont in the third quarter valued at $529,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

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

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

Newmont Dividend Announcement

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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. CLSA started coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

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.