Newmont Co. (NYSE:NEM) Shares Bought by Neo Ivy Capital Management

Neo Ivy Capital Management boosted its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 225.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,263 shares of the basic materials company's stock after acquiring an additional 9,191 shares during the quarter. Neo Ivy Capital Management's holdings in Newmont were worth $493,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NEM. Norges Bank purchased a new position in Newmont during the 4th quarter valued at $626,074,000. Voloridge Investment Management LLC purchased a new stake in shares of Newmont in the 4th quarter worth $92,693,000. Capital Research Global Investors lifted its holdings in shares of 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 worth $210,105,000 after buying an additional 2,338,953 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Newmont in the 4th quarter worth $76,281,000. Finally, Invesco Ltd. lifted its holdings in shares of Newmont by 23.9% in 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 during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

NEM stock traded down $0.92 during mid-day trading on Tuesday, reaching $52.73. 10,617,915 shares of the company's stock were exchanged, compared to its average volume of 10,124,422. The company has a market cap of $58.69 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The stock's 50 day moving average is $51.07 and its 200 day moving average is $45.27. 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 12-month low of $36.86 and a 12-month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last released 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 business had revenue of $5.01 billion for 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 last year, the business posted $0.55 earnings per share. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current 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 given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NEM. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Royal Bank of Canada upped their target price on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Finally, Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.52.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred 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 transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock worth $328,840 over the last quarter. 0.05% of the stock is currently owned by corporate 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.