Voloridge Investment Management LLC Invests $92.69 Million in Newmont Co. (NYSE:NEM)

Voloridge Investment Management LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 2,490,412 shares of the basic materials company's stock, valued at approximately $92,693,000. Voloridge Investment Management LLC owned 0.22% of Newmont at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NEM. Hennion & Walsh Asset Management Inc. raised its stake in shares of Newmont by 121.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 15,175 shares of the basic materials company's stock worth $565,000 after purchasing an additional 8,315 shares during the period. Merit Financial Group LLC bought a new stake in shares of Newmont during the 4th quarter worth $304,000. HB Wealth Management LLC raised its stake in Newmont by 4.9% in the 4th quarter. HB Wealth Management LLC now owns 14,471 shares of the basic materials company's stock valued at $539,000 after acquiring an additional 673 shares during the period. Clarius Group LLC raised its stake in Newmont by 5.3% in the 4th quarter. Clarius Group LLC now owns 6,990 shares of the basic materials company's stock valued at $260,000 after acquiring an additional 349 shares during the period. Finally, Successful Portfolios LLC raised its stake in Newmont by 5.3% in the 4th quarter. Successful Portfolios LLC now owns 6,221 shares of the basic materials company's stock valued at $232,000 after acquiring an additional 312 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Raymond James restated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. Argus set a $63.00 price objective on Newmont in a research note on Friday, April 25th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Finally, StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.52.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company'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 value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares of the company's stock, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company'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 value 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 position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $328,840 over the last quarter. 0.05% of the stock is owned by corporate insiders.

Newmont Trading Up 1.6%

Shares of NEM opened at $50.91 on Tuesday. The business's 50-day moving average price is $50.48 and its 200-day moving average price is $45.00. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The stock has a market cap of $56.66 billion, a PE ratio of 17.38, a P/E/G ratio of 0.41 and a beta of 0.31. 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 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The company 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 business earned $0.55 earnings per share. On average, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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

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.

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