Angeles Investment Advisors LLC Acquires 1,754 Shares of Newmont Co. (NYSE:NEM)

Angeles Investment Advisors LLC raised its position in shares of Newmont Co. (NYSE:NEM) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,631 shares of the basic materials company’s stock after buying an additional 1,754 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Newmont were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in shares of Newmont during the fourth quarter valued at about $122,000. Stevens Capital Management LP lifted its position in shares of Newmont by 31.7% during the fourth quarter. Stevens Capital Management LP now owns 8,840 shares of the basic materials company’s stock valued at $329,000 after buying an additional 2,130 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Newmont during the fourth quarter valued at about $630,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Newmont during the fourth quarter valued at about $20,444,000. Finally, Mizuho Securities USA LLC lifted its position in shares of Newmont by 45.0% during the fourth quarter. Mizuho Securities USA LLC now owns 107,899 shares of the basic materials company’s stock valued at $4,016,000 after buying an additional 33,494 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Performance

Shares of NYSE NEM opened at $47.23 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $33.86 and a 12 month high of $58.72. The company has a 50 day simple moving average of $44.10 and a two-hundred day simple moving average of $45.54. The stock has a market cap of $53.24 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.41 and a beta of 0.54.

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

Newmont Dividend Announcement

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were 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 represents a 5.81 % 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 worth $1,388,758 in the last three months. Company insiders own 0.06% of the company’s stock.

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.