OFI Invest Asset Management Acquires Shares of 36,473 Newmont Co. (NYSE:NEM)

OFI Invest Asset Management acquired a new stake in Newmont Co. (NYSE:NEM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,473 shares of the basic materials company’s stock, valued at approximately $1,311,000.

Other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new position in Newmont during the third quarter worth approximately $28,000. McIlrath & Eck LLC lifted its position in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Newmont during the third quarter worth approximately $52,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NEM shares. Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James cut their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Trading Down 0.1 %

NYSE:NEM opened at $43.88 on Monday. The stock has a 50-day simple moving average of $42.53 and a 200-day simple moving average of $45.99. The stock has a market cap of $49.44 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $33.29 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 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 value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $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. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 in the last three months. 0.06% of the stock is currently owned by company insiders.

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.