Occudo Quantitative Strategies LP Purchases 39,335 Shares of Newmont Co. (NYSE:NEM)

Occudo Quantitative Strategies LP grew its position in shares of Newmont Co. (NYSE:NEM) by 205.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 58,491 shares of the basic materials company’s stock after acquiring an additional 39,335 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Newmont were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NEM. Czech National Bank lifted its holdings in shares of Newmont by 5.6% during the 4th quarter. Czech National Bank now owns 246,839 shares of the basic materials company’s stock valued at $9,187,000 after buying an additional 13,096 shares during the period. Brookstone Capital Management purchased a new stake in shares of Newmont in the 4th quarter worth $245,000. Moody National Bank Trust Division increased its stake in shares of Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 2,645 shares in the last quarter. Eastern Bank increased its stake in shares of Newmont by 20.2% in the 4th quarter. Eastern Bank now owns 4,550 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 765 shares in the last quarter. Finally, Elevated Capital Advisors LLC increased its stake in shares of Newmont by 11.6% in the 4th quarter. Elevated Capital Advisors LLC now owns 19,908 shares of the basic materials company’s stock worth $741,000 after purchasing an additional 2,077 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 5.9%

Shares of Newmont stock opened at $50.80 on Tuesday. The firm has a market cap of $56.54 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.41 and a beta of 0.31. The business has a 50-day moving average price of $49.83 and a 200-day moving average price of $44.89. 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 Co. has a twelve month low of $36.86 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $0.55 EPS. Equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, May 27th. Newmont’s payout ratio is 22.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NEM shares. National Bankshares restated a “sector perform” rating on shares of Newmont in a research note on Wednesday, April 23rd. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. BMO Capital Markets restated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Finally, National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.63.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, the director now owns 47,257 shares of the company’s stock, valued at $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,154 shares of company stock valued at $328,840. 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.