Vise Technologies Inc. Raises Holdings in Newmont Co. (NYSE:NEM)

Vise Technologies Inc. lifted its holdings in Newmont Co. (NYSE:NEM - Free Report) by 69.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,898 shares of the basic materials company's stock after buying an additional 6,928 shares during the quarter. Vise Technologies Inc.'s holdings in Newmont were worth $629,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in Newmont in the 4th quarter worth about $1,624,000. Inlet Private Wealth LLC increased its position in Newmont by 27.6% during the fourth quarter. Inlet Private Wealth LLC now owns 39,720 shares of the basic materials company's stock worth $1,478,000 after acquiring an additional 8,600 shares during the period. Bfsg LLC increased its position in shares of Newmont by 47.7% during the fourth quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock valued at $6,646,000 after purchasing an additional 57,690 shares during the period. Swedbank AB grew its stake in shares of Newmont by 1.7% in the 4th quarter. Swedbank AB now owns 768,848 shares of the basic materials company's stock valued at $28,617,000 after purchasing an additional 12,608 shares during the period. Finally, Koa Wealth Management LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $934,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM traded up $0.21 on Wednesday, hitting $52.92. 7,566,849 shares of the company were exchanged, compared to its average volume of 10,124,783. The stock's 50 day moving average price is $51.17 and its 200 day moving average price is $45.33. The firm has a market capitalization of $58.90 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. 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 posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the prior year, the company posted $0.55 EPS. Sell-side analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

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 1.89%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. National Bank Financial raised Newmont to a "hold" rating in a research note on Friday, March 21st. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Wall Street Zen downgraded Newmont from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. One equities research 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 company. According to MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average target price of $56.52.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm'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 sale, the executive vice president now owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,154 shares of company stock valued at $328,840. Corporate insiders own 0.05% of the company's stock.

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.