Price T Rowe Associates Inc. MD Acquires 635,554 Shares of Newmont Co. (NYSE:NEM)

Price T Rowe Associates Inc. MD increased its holdings in shares of Newmont Co. (NYSE:NEM) by 12.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,886,961 shares of the basic materials company’s stock after acquiring an additional 635,554 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Newmont were worth $219,113,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HighPoint Advisor Group LLC increased its holdings in shares of Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 219 shares during the period. Confluence Investment Management LLC increased its stake in Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after acquiring an additional 281 shares during the period. Howard Capital Management Inc. raised its holdings in Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 292 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Newmont by 21.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 300 shares during the period. Finally, Fiduciary Financial Group LLC raised its position in shares of Newmont by 3.6% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 3.2 %

NEM opened at $53.93 on Friday. The stock has a market cap of $60.79 billion, a PE ratio of 18.41, a PEG ratio of 0.41 and a beta of 0.54. The business has a 50 day moving average of $47.89 and a 200-day moving average of $45.18. Newmont Co. has a 52 week low of $36.86 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.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.85%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada increased their target price on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. Scotiabank reiterated a “sector perform” rating on shares of Newmont in a research note on Monday, April 14th. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a research note on Wednesday. Finally, StockNews.com upgraded 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 assigned 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, Newmont presently has an average rating of “Moderate Buy” and an average target price of $55.40.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the sale, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the transaction, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. The trade was a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 in the last three months. Insiders own 0.05% of the company’s stock.

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.