Blue Capital Inc. Invests $223,000 in Newmont Co. (NYSE:NEM)

Blue Capital Inc. acquired a new position in Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,001 shares of the basic materials company's stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after buying an additional 797,445 shares in the last quarter. Geode Capital Management LLC boosted its position in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank purchased a new position in Newmont during the 4th quarter valued at about $626,074,000. Northern Trust Corp increased its holdings in shares of Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the period. Finally, Amundi lifted its position in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on NEM. Raymond James reiterated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. Argus set a $63.00 price objective on Newmont in a report on Friday, April 25th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, UBS Group upgraded 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 report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now directly owns 47,257 shares in the company, valued at $2,432,790.36. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $328,840 in the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

NEM traded up $1.68 during trading on Tuesday, hitting $54.72. The stock had a trading volume of 13,589,937 shares, compared to its average volume of 9,885,397. The firm has a market cap of $60.90 billion, a PE ratio of 18.68, a P/E/G ratio of 0.41 and a beta of 0.30. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72. The company has a 50 day simple moving average of $49.03 and a 200-day simple moving average of $45.00.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the prior year, the company earned $0.55 EPS. Analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is currently 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.