Bearing Point Capital LLC Purchases New Position in Newmont Co. (NYSE:NEM)

Bearing Point Capital LLC bought a new position in Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 61,412 shares of the basic materials company's stock, valued at approximately $2,286,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Newmont by 57.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock worth $88,580,000 after buying an additional 865,213 shares during the period. Brookstone Capital Management bought a new position in shares of Newmont in the fourth quarter worth about $245,000. Moody National Bank Trust Division grew its holdings in Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after buying an additional 2,645 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in Newmont during the fourth quarter valued at $4,269,000. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of several recent research reports. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. Raymond James restated an "outperform" rating and set a $66.00 price target on shares of Newmont in a report on Friday, April 25th. Royal Bank of Canada raised their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Finally, StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. One research 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. According to MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.63.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This trade represents a 4.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction 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 in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $328,840 over the last quarter. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Up 2.9 %

NYSE NEM traded up $1.51 during trading on Monday, hitting $53.04. The company's stock had a trading volume of 12,124,363 shares, compared to its average volume of 9,861,696. The business's 50 day simple moving average is $48.78 and its 200-day simple moving average is $44.93. The company has a market cap of $59.03 billion, a PE ratio of 18.10, a P/E/G ratio of 0.41 and a beta of 0.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

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.