BLI Banque de Luxembourg Investments Takes Position in Newmont Co. (NYSE:NEM)

BLI Banque de Luxembourg Investments acquired a new position in Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 152,500 shares of the basic materials company’s stock, valued at approximately $5,643,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. HHM Wealth Advisors LLC boosted its holdings in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. Redwood Park Advisors LLC acquired a new position in shares of Newmont during the 4th quarter worth about $37,000. Promus Capital LLC bought a new stake in Newmont during the 4th quarter valued at approximately $38,000. Kestra Investment Management LLC acquired a new stake in Newmont in the 4th quarter valued at approximately $43,000. Finally, Assetmark Inc. grew its holdings in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after buying an additional 820 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Newmont in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.63.

Insider Transactions at Newmont

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

Newmont Stock Up 0.0 %

NEM opened at $51.50 on Friday. The firm has a market cap of $57.32 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.41 and a beta of 0.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm’s 50-day simple moving average is $48.59 and its 200-day simple moving average is $45.04. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter last year, the business posted $0.55 earnings per share. Equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Tuesday, May 27th. Newmont’s dividend payout ratio is currently 22.42%.

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.