Rafferty Asset Management LLC Purchases 10,251 Shares of Newmont Co. (NYSE:NEM)

Rafferty Asset Management LLC raised its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,818 shares of the basic materials company's stock after acquiring an additional 10,251 shares during the period. Rafferty Asset Management LLC's holdings in Newmont were worth $3,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its position in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its position in Newmont by 5.2% during 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 last quarter. Norges Bank bought a new position in Newmont during the fourth quarter valued at $626,074,000. Northern Trust Corp increased its position in Newmont by 11.5% during 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 acquiring an additional 1,309,177 shares during the last quarter. Finally, Amundi increased its position in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Raymond James restated an "outperform" rating and issued a $66.00 price target on shares of Newmont in a report on Friday, April 25th. TD Securities cut their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and upped their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Finally, Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $56.52.

Newmont Stock Up 0.5%

NYSE:NEM opened at $50.09 on Monday. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The company has a 50-day moving average of $50.33 and a 200 day moving average of $44.96. The firm has a market cap of $55.75 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. 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 released its quarterly 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. The business had revenue of $5.01 billion during 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 firm posted $0.55 earnings per share. As a group, research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the 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 completion of the sale, the director now directly owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the 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 transaction, the executive vice president now directly owns 86,526 shares of the company's stock, valued at $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is currently owned by insiders.

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.

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