Shell Asset Management Co. Grows Holdings in Newmont Co. (NYSE:NEM)

Shell Asset Management Co. increased its position in Newmont Co. (NYSE:NEM) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,546 shares of the basic materials company’s stock after purchasing an additional 12,018 shares during the quarter. Shell Asset Management Co.’s holdings in Newmont were worth $8,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in NEM. Sherbrooke Park Advisers LLC acquired a new position in shares of Newmont during the fourth quarter valued at about $627,000. Rafferty Asset Management LLC boosted its holdings in shares of Newmont by 11.6% in the 4th quarter. Rafferty Asset Management LLC now owns 98,818 shares of the basic materials company’s stock valued at $3,678,000 after acquiring an additional 10,251 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Newmont during the 4th quarter valued at about $646,000. Recurrent Investment Advisors LLC boosted its position in Newmont by 83.5% in the 4th quarter. Recurrent Investment Advisors LLC now owns 51,839 shares of the basic materials company’s stock worth $1,929,000 after purchasing an additional 23,591 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its position in Newmont by 175.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 50,126 shares of the basic materials company’s stock valued at $1,866,000 after buying an additional 31,926 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on NEM. Royal Bank of Canada lifted their price target on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, Raymond James reiterated an “outperform” rating and set a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $55.63.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now owns 47,257 shares in the company, valued at $2,432,790.36. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,154 shares of company stock worth $328,840. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Up 2.4%

Shares of NEM stock opened at $49.82 on Friday. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72. 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 has a fifty day moving average of $50.20 and a 200-day moving average of $44.97. The stock has a market cap of $55.45 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for 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 period in the prior year, the business earned $0.55 earnings per share. On average, equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 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.