Raiffeisen Bank International AG Buys Shares of 17,452 Newmont Co. (NYSE:NEM)

Raiffeisen Bank International AG purchased a new position in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,452 shares of the basic materials company’s stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Brookstone Capital Management acquired a new position in Newmont in the fourth quarter valued at about $245,000. Avanza Fonder AB purchased a new stake in Newmont in the fourth quarter valued at approximately $4,269,000. Strategic Financial Concepts LLC purchased a new position in shares of Newmont during the fourth quarter worth $1,624,000. Inlet Private Wealth LLC raised its holdings in shares of Newmont by 27.6% in the 4th quarter. Inlet Private Wealth LLC now owns 39,720 shares of the basic materials company’s stock valued at $1,478,000 after buying an additional 8,600 shares during the period. Finally, Bfsg LLC boosted its holdings in Newmont by 47.7% during the 4th quarter. Bfsg LLC now owns 178,566 shares of the basic materials company’s stock valued at $6,646,000 after acquiring an additional 57,690 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value 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. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $328,840 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Up 0.5%

NEM stock opened at $50.09 on Friday. The stock has a market capitalization of $55.75 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The company has a fifty day moving average of $50.33 and a 200-day moving average of $44.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a one year low of $36.86 and a one year high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.82 billion. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, analysts expect that Newmont Co. will post 3.45 EPS for the current 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. This represents a $1.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is 22.42%.

Wall Street Analyst Weigh In

NEM has been the topic of several recent research reports. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. National Bankshares reissued a “sector perform” rating on shares of Newmont in a research note on Wednesday, April 23rd. Royal Bank of Canada increased their price target on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $56.52.

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.