Fox Run Management L.L.C. Invests $630,000 in Newmont Co. (NYSE:NEM)

Fox Run Management L.L.C. acquired a new stake in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,920 shares of the basic materials company’s stock, valued at approximately $630,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its stake in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Newmont by 19.4% during the third quarter. Raymond James Trust N.A. now owns 11,318 shares of the basic materials company’s stock worth $605,000 after purchasing an additional 1,836 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at $678,000. Nwam LLC acquired a new stake in shares of Newmont in the 3rd quarter worth $440,000. Finally, Cerity Partners LLC grew its stake in Newmont by 49.3% during the 3rd quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company’s stock worth $3,129,000 after buying an additional 19,321 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NEM. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. 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. TD Securities cut their price target on shares of 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 assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Finally, Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Down 1.2 %

Shares of Newmont stock opened at $46.81 on Tuesday. The firm has a 50-day simple moving average of $44.25 and a two-hundred day simple moving average of $45.50. 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 Co. has a fifty-two week low of $33.86 and a fifty-two week high of $58.72. The company has a market cap of $52.76 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly 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 company 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, equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.14%. The ex-dividend date is Tuesday, March 4th. Newmont’s payout ratio is presently 34.13%.

About Newmont

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.