Smartleaf Asset Management LLC Grows Stock Holdings in Newmont Co. (NYSE:NEM)

Smartleaf Asset Management LLC lifted its position in shares of Newmont Co. (NYSE:NEM) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,495 shares of the basic materials company’s stock after purchasing an additional 646 shares during the period. Smartleaf Asset Management LLC’s holdings in Newmont were worth $129,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NEM. Zurich Insurance Group Ltd FI purchased a new stake in shares of Newmont during the 3rd quarter worth $98,011,000. Nordea Investment Management AB lifted its position in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. FMR LLC lifted its position in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 0.1 %

Shares of NEM opened at $43.88 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average is $42.53 and its two-hundred day moving average is $46.07. Newmont Co. has a twelve month low of $33.29 and a twelve month high of $58.72. The firm has a market capitalization of $49.44 billion, a P/E ratio of 14.98, a PEG ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last issued its 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 net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. On average, research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.28%. Newmont’s payout ratio is currently 34.13%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Raymond James reduced their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Royal Bank of Canada boosted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insiders Place Their Bets

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.06% of the stock is owned by company insiders.

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.