Rodgers Brothers Inc. Raises Holdings in Newmont Co. (NYSE:NEM)

Rodgers Brothers Inc. boosted its stake in shares of Newmont Co. (NYSE:NEM) by 68.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,720 shares of the basic materials company’s stock after acquiring an additional 14,050 shares during the quarter. Rodgers Brothers Inc.’s holdings in Newmont were worth $1,292,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Colrain Capital LLC acquired a new position in shares of Newmont in the 4th quarter valued at $3,824,000. Cannell & Spears LLC raised its position in shares of Newmont by 6.1% in the fourth quarter. Cannell & Spears LLC now owns 53,175 shares of the basic materials company’s stock worth $1,979,000 after acquiring an additional 3,060 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Newmont by 11.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 148,780 shares of the basic materials company’s stock worth $5,538,000 after acquiring an additional 15,542 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Newmont by 5,206.1% during the 4th quarter. Meeder Asset Management Inc. now owns 35,073 shares of the basic materials company’s stock valued at $1,305,000 after acquiring an additional 34,412 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Newmont by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 181,110 shares of the basic materials company’s stock valued at $6,741,000 after purchasing an additional 2,877 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Down 0.7 %

Shares of NEM opened at $48.06 on Monday. Newmont Co. has a 52-week low of $36.10 and a 52-week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $44.78 and a two-hundred day simple moving average of $45.42. The company has a market capitalization of $54.17 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) 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 firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. TD Securities dropped 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. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were 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 of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, 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. Over the last three months, insiders sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.05% of the company’s stock.

Newmont Company 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.