Shell Asset Management Co. Boosts Position in Newmont Co. (NYSE:NEM)

Shell Asset Management Co. boosted its position in Newmont Co. (NYSE:NEM - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 234,546 shares of the basic materials company's stock after purchasing an additional 12,018 shares during the quarter. Shell Asset Management Co.'s holdings in Newmont were worth $8,730,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NEM. Norges Bank acquired a new position in shares of Newmont during the fourth quarter valued at about $626,074,000. Capital Research Global Investors increased its holdings in shares of Newmont by 70.7% during 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 about $76,281,000. Invesco Ltd. increased its holdings in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. Finally, Allianz SE acquired a new position in shares of Newmont during the fourth quarter valued at about $65,385,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the transaction, the director now directly owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Insiders have sold 7,154 shares of company stock worth $328,840 in the last quarter. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Performance

Newmont stock traded up $0.81 during mid-day trading on Monday, hitting $50.91. The company had a trading volume of 11,495,957 shares, compared to its average volume of 10,075,980. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $36.86 and a 12-month high of $58.72. The company's fifty day moving average is $50.33 and its 200-day moving average is $44.96. The company has a market capitalization of $56.66 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last announced its 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 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 analyst estimates of $4.82 billion. During the same quarter last year, the firm posted $0.55 EPS. Equities research analysts predict that Newmont Co. will post 3.45 EPS for the current 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 given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. Newmont's dividend payout ratio (DPR) is 22.42%.

Analyst Ratings Changes

NEM has been the topic of several recent analyst reports. Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Royal Bank of Canada increased their price target 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, Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently 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.