Centiva Capital LP Grows Position in Newmont Co. (NYSE:NEM)

Centiva Capital LP boosted its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,268 shares of the basic materials company's stock after acquiring an additional 18,013 shares during the quarter. Centiva Capital LP's holdings in Newmont were worth $2,801,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Newmont in the fourth quarter valued at $626,074,000. Capital Research Global Investors grew its position 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 valued at $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Newmont during the fourth quarter worth about $76,281,000. Invesco Ltd. boosted its stake in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the period. Finally, Allianz SE purchased a new position in shares of Newmont in the fourth quarter valued at approximately $65,385,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of Newmont stock traded down $0.57 during trading hours on Wednesday, hitting $54.04. 11,138,083 shares of the company were exchanged, compared to its average volume of 9,899,946. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $49.25 and a 200-day moving average of $45.06. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The stock has a market capitalization of $60.14 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results 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 company had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the business earned $0.55 EPS. As a group, analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Raymond James reiterated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.63.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated 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. 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 valued at $328,840 in the last three months. 0.05% of the stock is currently owned by company insiders.

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.