Stevens Capital Management LP Buys 2,130 Shares of Newmont Co. (NYSE:NEM)

Stevens Capital Management LP increased its holdings in Newmont Co. (NYSE:NEM) by 31.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,840 shares of the basic materials company’s stock after buying an additional 2,130 shares during the quarter. Stevens Capital Management LP’s holdings in Newmont were worth $329,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI purchased a new position in Newmont during the third quarter valued at $98,011,000. Nordea Investment Management AB lifted its position in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Amundi grew its stake in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after acquiring an additional 1,507,708 shares during the period. FMR LLC boosted its position in shares of Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares during the period. Finally, Ruffer LLP boosted its holdings in Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Newmont stock opened at $46.81 on Tuesday. The firm has a market capitalization of $52.76 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12-month low of $33.86 and a 12-month high of $58.72. The firm has a 50-day moving average price of $44.25 and a 200-day moving average price of $45.50. 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 (NYSE:NEM) last announced 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 return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. As a group, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current 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 paid 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 dividend payout ratio is presently 34.13%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction 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 approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Scotiabank reduced their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Raymond James dropped their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.