OMERS ADMINISTRATION Corp Raises Stock Holdings in Newmont Co. (NYSE:NEM)

OMERS ADMINISTRATION Corp raised its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,200 shares of the basic materials company's stock after buying an additional 8,195 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Newmont were worth $1,794,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NEM. HHM Wealth Advisors LLC lifted its position 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 valued at $33,000 after buying an additional 350 shares during the last quarter. Redwood Park Advisors LLC purchased a new stake in shares of Newmont during the fourth quarter valued at about $37,000. Promus Capital LLC purchased a new stake in shares of Newmont during the fourth quarter valued at about $38,000. Kestra Investment Management LLC purchased a new stake in shares of Newmont during the fourth quarter valued at about $43,000. Finally, Assetmark Inc. lifted its position 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 valued at $47,000 after buying an additional 820 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the transaction, the director now owns 47,257 shares in the company, valued at $2,432,790.36. The trade was a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is owned by company insiders.

Newmont Price Performance

Newmont stock traded up $1.03 during trading on Tuesday, reaching $51.96. The company had a trading volume of 7,069,941 shares, compared to its average volume of 10,065,358. The firm's 50-day simple moving average is $50.48 and its 200 day simple moving average is $45.00. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The firm has a market capitalization of $57.83 billion, a PE ratio of 17.79, 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 quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company earned $0.55 EPS. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. Newmont's dividend payout ratio is currently 22.42%.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent analyst reports. TD Securities cut their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Finally, UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and raised their target price for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $56.52.

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.