Jackson Square Capital LLC Invests $264,000 in Newmont Co. (NYSE:NEM)

Jackson Square Capital LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,461 shares of the basic materials company's stock, valued at approximately $264,000.

Several other hedge funds have also recently bought and sold shares of NEM. Geode Capital Management LLC boosted 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 acquired a new stake in shares of Newmont during the fourth quarter worth approximately $626,074,000. Northern Trust Corp increased its holdings in shares of Newmont by 11.5% in the fourth 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 in the last quarter. Amundi grew 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 valued at $481,400,000 after buying an additional 1,507,708 shares during the period. Finally, Invesco Ltd. lifted its position in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after buying an additional 2,028,150 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction 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 owns 47,257 shares in the company, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,154 shares of company stock valued at $381,539. Corporate insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank of Canada increased their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. Finally, Argus set a $63.00 price objective on shares of Newmont in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $57.68.

Newmont Stock Up 0.5%

Shares of NYSE NEM traded up $0.32 during mid-day trading on Monday, hitting $58.22. The company had a trading volume of 9,812,730 shares, compared to its average volume of 10,370,792. Newmont Co. has a one year low of $36.86 and a one year high of $58.77. The company has a market capitalization of $64.79 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The firm has a 50-day simple moving average of $53.00 and a two-hundred day simple moving average of $46.44. 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 (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is currently 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.