Raiffeisen Bank International AG Invests $646,000 in Newmont Co. (NYSE:NEM)

Raiffeisen Bank International AG bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,452 shares of the basic materials company's stock, valued at approximately $646,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC acquired a new stake in Newmont during the fourth quarter worth $37,000. Promus Capital LLC bought a new stake in Newmont in the fourth quarter valued at about $38,000. Kestra Investment Management LLC acquired a new position in shares of Newmont in the 4th quarter worth approximately $43,000. Finally, Assetmark Inc. raised its stake in Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after acquiring an additional 820 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Up 2.8%

Newmont stock traded up $1.42 during midday trading on Tuesday, hitting $52.35. 10,585,794 shares of the stock were exchanged, compared to its average volume of 10,084,917. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business's 50-day moving average price is $50.61 and its 200-day moving average price is $45.05. The stock has a market capitalization of $58.27 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31.

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 analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the previous year, the company earned $0.55 earnings per share. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research analyst reports. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada increased their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and raised their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.52.

Insider Buying and Selling at Newmont

In other Newmont news, 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 transaction, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 owns 47,916 shares of the company's stock, valued at approximately $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. Insiders sold a total of 7,154 shares of company stock valued at $328,840 in the last three months. Company 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.