43,801 Shares in Newmont Co. (NYSE:NEM) Bought by Parvin Asset Management LLC

Parvin Asset Management LLC bought a new position in Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 43,801 shares of the basic materials company's stock, valued at approximately $1,630,000. Newmont accounts for approximately 1.7% of Parvin Asset Management LLC's investment portfolio, making the stock its 7th biggest holding.

A number of other large investors also recently added to or reduced their stakes in NEM. Norges Bank purchased a new position in Newmont in the 4th quarter worth $626,074,000. Capital Research Global Investors grew its holdings in Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Newmont in the 4th quarter worth $76,281,000. Invesco Ltd. grew its holdings in Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares during the last quarter. Finally, Allianz SE bought a new stake in Newmont in the 4th quarter worth $65,385,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Raymond James reissued an "outperform" rating and issued a $66.00 price target on shares of Newmont in a report on Friday. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Finally, Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.63.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares in the company, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,154 shares of company stock worth $825,678. Insiders own 0.05% of the company's stock.

Newmont Stock Down 2.1 %

NEM stock opened at $52.95 on Wednesday. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market cap of $59.69 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The business has a 50 day moving average of $48.12 and a 200 day moving average of $45.12.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the company earned $0.55 EPS. On average, research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.89%. Newmont's dividend payout ratio is 22.42%.

Newmont Company 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.

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