Geode Capital Management LLC Buys 1,213,397 Shares of Newmont Co. (NYSE:NEM)

Geode Capital Management LLC raised its stake in shares of Newmont Co. (NYSE:NEM) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,697,779 shares of the basic materials company’s stock after acquiring an additional 1,213,397 shares during the period. Geode Capital Management LLC owned about 2.17% of Newmont worth $919,484,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NEM. HighPoint Advisor Group LLC boosted its stake in shares of Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after buying an additional 219 shares during the last quarter. Confluence Investment Management LLC boosted its position in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. boosted its position in Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 292 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after buying an additional 300 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its position in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after buying an additional 303 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Scotiabank dropped their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. StockNews.com raised 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 objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.05% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $48.74 on Thursday. The firm has a market capitalization of $54.94 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.41 and a beta of 0.54. 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’s 50-day simple moving average is $45.17 and its two-hundred day simple moving average is $45.37. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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 analysts’ expectations of $5.32 billion. As a group, equities analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.05%. Newmont’s dividend payout ratio (DPR) 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.