PKO Investment Management Joint Stock Co Invests $14.06 Million in Newmont Co. (NYSE:NEM)

PKO Investment Management Joint Stock Co purchased a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 377,853 shares of the basic materials company's stock, valued at approximately $14,064,000. Newmont comprises 1.8% of PKO Investment Management Joint Stock Co's investment portfolio, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in Newmont during the fourth quarter worth $1,624,000. Inlet Private Wealth LLC grew its holdings in shares of Newmont by 27.6% in the fourth quarter. Inlet Private Wealth LLC now owns 39,720 shares of the basic materials company's stock valued at $1,478,000 after purchasing an additional 8,600 shares in the last quarter. 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 worth $6,646,000 after acquiring an additional 57,690 shares during the period. Swedbank AB raised its position in 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 in the last quarter. Finally, Koa Wealth Management LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $934,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEM shares. TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank of Canada increased their price objective on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.52.

Newmont Stock Up 0.3%

Shares of NYSE:NEM traded up $0.15 during trading on Friday, hitting $52.67. 18,835,014 shares of the company were exchanged, compared to its average volume of 10,179,496. 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 firm has a fifty day moving average price of $51.40 and a two-hundred day moving average price of $45.45. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The stock has a market cap of $58.62 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results 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 business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period last year, the firm posted $0.55 EPS. As a group, research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 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 value of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares of the company's stock, valued at $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the sale, the director now directly owns 47,916 shares in the company, valued at approximately $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. Insiders have sold 7,154 shares of company stock worth $328,840 in the last 90 days. Insiders own 0.05% of the company's stock.

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.