Y Intercept Hong Kong Ltd Grows Stock Holdings in Newmont Co. (NYSE:NEM)

Y Intercept Hong Kong Ltd grew its stake in shares of Newmont Co. (NYSE:NEM) by 253.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,251 shares of the basic materials company’s stock after buying an additional 155,078 shares during the period. Newmont accounts for approximately 0.5% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 13th largest holding. Y Intercept Hong Kong Ltd’s holdings in Newmont were worth $8,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Waverton Investment Management Ltd lifted its stake in shares of Newmont by 14.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after acquiring an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares during the period. Nordea Investment Management AB grew its stake in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 57.1% during 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 in the last quarter. Finally, Red Cedar Investment Management LLC bought a new stake in Newmont during the 3rd quarter valued at about $1,263,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’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 completion of the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 over the last three months. 0.06% of the stock is owned by insiders.

Newmont Trading Down 5.9 %

NEM stock opened at $45.25 on Monday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm has a market cap of $51.52 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The firm has a fifty day moving average price of $41.56 and a 200 day moving average price of $46.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.32 billion. Sell-side analysts anticipate 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. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Raymond James dropped 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. Royal Bank of Canada raised their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

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.