33,561 Shares in Newmont Co. (NYSE:NEM) Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,561 shares of the basic materials company's stock, valued at approximately $1,249,000.

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Newmont by 1.6% in the 4th 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 during the period. Geode Capital Management LLC grew its stake in Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank bought a new stake in shares of Newmont during the fourth quarter valued at approximately $626,074,000. Northern Trust Corp raised its position in shares of Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares during the period. Finally, Amundi lifted its holdings in shares of Newmont by 14.0% in the 4th 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 institutional investors and hedge funds.

Newmont Price Performance

Shares of Newmont stock traded up $1.68 during trading on Tuesday, hitting $54.72. 13,589,937 shares of the stock traded hands, compared to its average volume of 9,885,397. The firm's fifty day moving average is $49.03 and its 200-day moving average is $45.00. The stock has a market cap of $60.90 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 0.41 and a beta of 0.30. Newmont Co. has a 52 week low of $36.86 and a 52 week 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.

Newmont (NYSE:NEM - Get Free Report) last released 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 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 quarter in the previous year, the business earned $0.55 earnings per share. Research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Newmont's dividend payout ratio is currently 22.42%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NEM. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. Finally, 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. One 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 stock. Based on data from MarketBeat, Newmont has an average rating of "Moderate Buy" and a consensus price target of $55.63.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 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 $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock valued at $328,840 over the last ninety days. 0.05% of the stock is owned by 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.