Gotham Asset Management LLC Buys 201,180 Shares of Newmont Co. (NYSE:NEM)

Gotham Asset Management LLC boosted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 145.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 339,542 shares of the basic materials company's stock after purchasing an additional 201,180 shares during the quarter. Gotham Asset Management LLC's holdings in Newmont were worth $12,638,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NEM. HHM Wealth Advisors LLC lifted its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after buying an additional 350 shares during the last quarter. Redwood Park Advisors LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $37,000. Promus Capital LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $38,000. Kestra Investment Management LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $43,000. Finally, Assetmark Inc. lifted its holdings in shares of 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 buying an additional 820 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NEM shares. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada upped their price target on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 target price for the company. Raymond James restated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. Finally, Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at approximately $2,094,408.36. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,154 shares of company stock worth $328,840. Insiders own 0.05% of the company's stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $53.93 on Monday. The business's fifty day moving average price is $49.69 and its two-hundred day moving average price is $44.88. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The stock has a market capitalization of $60.02 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. 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 (NYSE:NEM - Get Free Report) last announced its quarterly 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 return on equity of 13.52% and a net margin of 17.92%. 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 prior year, the business posted $0.55 earnings per share. As a group, analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is presently 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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