USS Investment Management Ltd Buys Shares of 206,553 Newmont Co. (NYSE:NEM)

USS Investment Management Ltd bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 206,553 shares of the basic materials company's stock, valued at approximately $7,687,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont in the fourth quarter worth about $1,624,000. Inlet Private Wealth LLC lifted its holdings in 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 acquiring an additional 8,600 shares during the period. Bfsg LLC boosted its position in Newmont by 47.7% in the 4th quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock worth $6,646,000 after purchasing an additional 57,690 shares in the last quarter. Swedbank AB grew its stake in shares of Newmont by 1.7% during the 4th quarter. Swedbank AB now owns 768,848 shares of the basic materials company's stock worth $28,617,000 after purchasing an additional 12,608 shares during the period. Finally, Encompass More Asset Management grew its stake in shares of Newmont by 267.9% during the 4th quarter. Encompass More Asset Management now owns 37,501 shares of the basic materials company's stock worth $1,396,000 after purchasing an additional 27,309 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NEM. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank of Canada lifted their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. Wall Street Zen lowered shares of Newmont from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Finally, Raymond James restated an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.52.

Newmont Price Performance

Shares of Newmont stock traded down $0.58 during mid-day trading on Tuesday, reaching $52.82. 3,509,028 shares of the stock traded hands, compared to its average volume of 10,096,726. The stock has a market capitalization of $58.79 billion, a PE ratio of 18.01, a PEG ratio of 0.41 and a beta of 0.31. The business has a 50-day moving average of $51.07 and a 200 day moving average of $45.27. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two 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.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period in the prior year, the company earned $0.55 EPS. On average, analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred 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. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, 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 have sold 7,154 shares of company stock valued at $328,840. Corporate insiders own 0.05% of the company's stock.

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.