Two Sigma Investments LP Raises Holdings in Newmont Co. (NYSE:NEM)

Two Sigma Investments LP boosted its position in Newmont Co. (NYSE:NEM - Free Report) by 51.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,808,687 shares of the basic materials company's stock after acquiring an additional 618,366 shares during the quarter. Two Sigma Investments LP owned 0.16% of Newmont worth $67,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Tidal Investments LLC raised its holdings in shares of Newmont by 16.6% in the 4th quarter. Tidal Investments LLC now owns 190,843 shares of the basic materials company's stock worth $7,103,000 after purchasing an additional 27,148 shares during the period. State of Wyoming acquired a new stake in Newmont during the 4th quarter worth approximately $179,000. Studio Investment Management LLC raised its holdings in Newmont by 33.1% in the fourth quarter. Studio Investment Management LLC now owns 1,529 shares of the basic materials company's stock valued at $57,000 after buying an additional 380 shares during the period. Siemens Fonds Invest GmbH lifted its position in Newmont by 172.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 33,754 shares of the basic materials company's stock valued at $1,256,000 after buying an additional 21,368 shares in the last quarter. Finally, Semper Augustus Investments Group LLC grew its stake in Newmont by 0.8% during the fourth quarter. Semper Augustus Investments Group LLC now owns 656,823 shares of the basic materials company's stock worth $24,447,000 after buying an additional 5,509 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Finally, Argus set a $63.00 price target on Newmont in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.52.

Insider Buying and Selling

In related 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 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 document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the transaction, the director now directly owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,154 shares of company stock worth $328,840. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Performance

Newmont stock opened at $50.91 on Tuesday. Newmont Co. has a 52 week low of $36.86 and a 52 week 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. The stock has a market cap of $56.66 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The stock has a 50 day moving average of $50.48 and a 200-day moving average of $45.00.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations 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 earnings per share. On average, analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. Newmont's payout ratio is 22.42%.

Newmont Company 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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