Freestone Grove Partners LP Invests $316,000 in Newmont Co. (NYSE:NEM)

Freestone Grove Partners LP bought a new stake in Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,497 shares of the basic materials company's stock, valued at approximately $316,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Newmont in the 4th quarter valued at about $626,074,000. Capital Research Global Investors boosted its holdings in shares of Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Newmont during the fourth quarter valued at approximately $76,281,000. Invesco Ltd. raised its holdings in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Finally, Allianz SE acquired a new stake in Newmont in the fourth quarter worth approximately $65,385,000. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NEM. Argus set a $63.00 price target on Newmont in a research report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Finally, UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and increased their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $55.63.

Insiders Place Their Bets

In other 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 transaction of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 47,916 shares of the company's stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $328,840 over the last quarter. Insiders own 0.05% of the company's stock.

Newmont Stock Up 3.2 %

NEM traded up $1.68 during trading on Tuesday, reaching $54.72. 13,589,937 shares of the stock traded hands, compared to its average volume of 9,876,705. 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 Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The stock's 50-day simple moving average is $48.78 and its two-hundred day simple moving average is $44.93. The stock has a market cap of $60.90 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion for 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 quarter in the prior year, the company posted $0.55 earnings per share. As a group, equities research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.83%. Newmont's dividend payout ratio (DPR) is currently 22.42%.

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.