Occudo Quantitative Strategies LP Raises Position in Newmont Co. (NYSE:NEM)

Occudo Quantitative Strategies LP increased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 205.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,491 shares of the basic materials company's stock after purchasing an additional 39,335 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Newmont were worth $2,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp increased its position in shares of Newmont by 20.5% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 48,200 shares of the basic materials company's stock valued at $1,794,000 after acquiring an additional 8,195 shares during the period. LRI Investments LLC increased its position in shares of Newmont by 24.2% in the fourth quarter. LRI Investments LLC now owns 5,381 shares of the basic materials company's stock valued at $200,000 after acquiring an additional 1,050 shares during the period. Gotham Asset Management LLC increased its position in shares of Newmont by 145.4% in the fourth quarter. Gotham Asset Management LLC now owns 339,542 shares of the basic materials company's stock valued at $12,638,000 after acquiring an additional 201,180 shares during the period. Ethic Inc. purchased a new position in shares of Newmont in the fourth quarter valued at about $495,000. Finally, FORA Capital LLC purchased a new position in shares of Newmont in the fourth quarter valued at about $6,298,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NEM shares. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada raised their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.63.

Newmont Stock Performance

Shares of NEM opened at $50.80 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business's 50 day moving average price is $49.83 and its 200-day moving average price is $44.89. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The stock has a market cap of $56.54 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations 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 previous year, the firm posted $0.55 EPS. Equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.97%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insider Activity at Newmont

In related 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 transaction, the executive vice president now directly owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is owned by corporate insiders.

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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