UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Newmont Co. (NYSE:NEM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,407,995 shares of the basic materials company's stock after purchasing an additional 1,331,278 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.83% of Newmont worth $350,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HHM Wealth Advisors LLC increased its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Redwood Park Advisors LLC purchased a new position in shares of Newmont during the fourth quarter worth $37,000. Promus Capital LLC acquired a new stake in shares of Newmont in the fourth quarter valued at $38,000. Kestra Investment Management LLC purchased a new stake in shares of Newmont in the 4th quarter valued at $43,000. Finally, Assetmark Inc. raised its holdings in shares of Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after buying an additional 820 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 approximately $3,782,051.46. The trade was a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15% decrease in their ownership of the stock. 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 $328,840. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $60.00 in a report on Friday, April 11th. Raymond James reiterated an "outperform" rating and set a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Finally, Royal Bank of Canada raised their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.52.

Newmont Stock Down 1.1%

Shares of NEM traded down $0.58 during midday trading on Tuesday, reaching $52.82. The stock had a trading volume of 3,509,028 shares, compared to its average volume of 10,096,726. The company has a market cap of $58.79 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 0.41 and a beta of 0.31. The company's fifty day simple moving average is $51.07 and its two-hundred day simple moving average is $45.27. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. 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 (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating 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 analyst estimates of $4.82 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. Equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Newmont's payout ratio 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.