Point72 Asia Singapore Pte. Ltd. Has $542,000 Position in Newmont Co. (NYSE:NEM)

Point72 Asia Singapore Pte. Ltd. lowered its position in Newmont Co. (NYSE:NEM) by 32.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,567 shares of the basic materials company’s stock after selling 6,992 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Newmont were worth $542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its stake in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after purchasing an additional 797,445 shares during the period. Geode Capital Management LLC boosted its stake in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after buying an additional 1,213,397 shares in the last quarter. Norges Bank bought a new stake in Newmont in the fourth quarter valued at $626,074,000. Northern Trust Corp lifted its holdings in shares of Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after acquiring an additional 1,309,177 shares during the period. Finally, Amundi boosted its stake in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now directly owns 47,257 shares of the company’s stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the subject of several analyst reports. Cfra Research raised shares of Newmont to a “strong-buy” rating in a report on Friday, April 25th. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. BMO Capital Markets restated an “outperform” rating on shares of Newmont in a report on Thursday, April 24th. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.63.

Newmont Trading Up 2.4%

NYSE:NEM opened at $49.82 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $55.45 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 0.41 and a beta of 0.31. The business’s 50-day moving average price is $50.20 and its two-hundred day moving average price is $44.97. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company posted $0.55 earnings per share. On average, equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 2.01%. Newmont’s dividend payout ratio is currently 22.42%.

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.