16,823,222 Shares in Newmont Co. (NYSE:NEM) Purchased by Norges Bank

Norges Bank bought a new stake in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,823,222 shares of the basic materials company’s stock, valued at approximately $626,074,000. Norges Bank owned 1.48% of Newmont at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. NEOS Investment Management LLC grew its holdings in shares of Newmont by 31.2% in the fourth quarter. NEOS Investment Management LLC now owns 67,960 shares of the basic materials company’s stock worth $2,529,000 after purchasing an additional 16,174 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in Newmont by 36.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 92,150 shares of the basic materials company’s stock valued at $3,430,000 after buying an additional 24,593 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Newmont by 6.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,816,370 shares of the basic materials company’s stock valued at $69,222,000 after buying an additional 105,538 shares during the period. Korea Investment CORP grew its stake in Newmont by 76.7% in the 4th quarter. Korea Investment CORP now owns 999,815 shares of the basic materials company’s stock worth $37,213,000 after acquiring an additional 433,994 shares in the last quarter. Finally, Tyler Stone Wealth Management increased its position in shares of Newmont by 27.6% during the fourth quarter. Tyler Stone Wealth Management now owns 14,291 shares of the basic materials company’s stock worth $532,000 after acquiring an additional 3,095 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the firm’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 transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.05% of the company’s stock.

Newmont Stock Down 0.7 %

Newmont stock opened at $48.06 on Friday. Newmont Co. has a 1-year low of $36.10 and a 1-year high of $58.72. The business has a fifty day moving average price of $44.78 and a 200-day moving average price of $45.50. 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 stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping 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 the consensus estimate of $5.32 billion. Equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Newmont’s payout ratio is 34.13%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEM. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. National Bank Financial upgraded Newmont to a “hold” rating in a report on Friday, March 21st. CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.16.

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.