Quantinno Capital Management LP Buys 33,056 Shares of Newmont Co. (NYSE:NEM)

Quantinno Capital Management LP grew its stake in shares of Newmont Co. (NYSE:NEM) by 26.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,781 shares of the basic materials company’s stock after purchasing an additional 33,056 shares during the period. Quantinno Capital Management LP’s holdings in Newmont were worth $5,947,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brookstone Capital Management bought a new stake in shares of Newmont during the 4th quarter valued at about $245,000. Avanza Fonder AB bought a new stake in shares of Newmont during the 4th quarter valued at about $4,269,000. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the 4th quarter valued at about $1,624,000. Inlet Private Wealth LLC boosted its stake in shares of Newmont by 27.6% during 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 purchasing an additional 8,600 shares in the last quarter. Finally, Bfsg LLC boosted its stake in shares of 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 purchasing an additional 57,690 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.5%

Shares of Newmont stock opened at $50.09 on Friday. 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 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. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72. The company has a 50-day simple moving average of $50.33 and a two-hundred day simple moving average of $44.98.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping 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 analyst estimates of $4.82 billion. During the same period in the previous year, the business posted $0.55 earnings per share. On average, analysts anticipate that Newmont Co. will post 3.45 EPS 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 paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Newmont’s dividend payout ratio is presently 22.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NEM shares. National Bank Financial raised shares of 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 research report on Friday, April 25th. BMO Capital Markets reissued an “outperform” rating on shares of Newmont in a research report on Thursday, April 24th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and lifted their price target for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, 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 report on Friday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.52.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the sale, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on 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 owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock worth $328,840 over the last three months. 0.05% of the stock is currently owned by company insiders.

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.