Sherbrooke Park Advisers LLC Purchases New Stake in Newmont Co. (NYSE:NEM)

Sherbrooke Park Advisers LLC acquired a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,846 shares of the basic materials company's stock, valued at approximately $627,000.

A number of other hedge funds also recently bought and sold shares of NEM. Rafferty Asset Management LLC increased its position in shares of Newmont by 11.6% in the 4th quarter. Rafferty Asset Management LLC now owns 98,818 shares of the basic materials company's stock valued at $3,678,000 after acquiring an additional 10,251 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Newmont in the fourth quarter valued at about $646,000. Recurrent Investment Advisors LLC raised its stake in shares of Newmont by 83.5% in the fourth quarter. Recurrent Investment Advisors LLC now owns 51,839 shares of the basic materials company's stock worth $1,929,000 after purchasing an additional 23,591 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of Newmont by 175.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 50,126 shares of the basic materials company's stock worth $1,866,000 after purchasing an additional 31,926 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in Newmont by 26.1% in the 4th quarter. Quantinno Capital Management LP now owns 159,781 shares of the basic materials company's stock worth $5,947,000 after buying an additional 33,056 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other news, 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 transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares of the company's stock, valued at $3,782,051.46. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction 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 $2,432,790.36. The trade was a 4.21% 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 valued at $328,840. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Up 2.8%

Shares of NYSE:NEM traded up $1.42 during trading on Tuesday, hitting $52.35. The company's stock had a trading volume of 10,585,794 shares, compared to its average volume of 10,084,917. The company has a market capitalization of $58.27 billion, a PE ratio of 17.87, a P/E/G 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 Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The business has a 50 day moving average price of $50.48 and a two-hundred day moving average price of $45.00.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate 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 net margin of 17.92% and a return on equity of 13.52%. During the same quarter last year, the company earned $0.55 earnings per share. As a group, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.91%. Newmont's payout ratio is currently 22.42%.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. Raymond James restated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. Finally, UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and lifted their target price for the company from $50.00 to $60.00 in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock 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.