Susquehanna Fundamental Investments LLC Invests $27.71 Million in Newmont Co. (NYSE:NEM)

Susquehanna Fundamental Investments LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 744,439 shares of the basic materials company's stock, valued at approximately $27,708,000. Susquehanna Fundamental Investments LLC owned 0.07% of Newmont at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC raised its position in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank bought a new stake in shares of Newmont in the 4th quarter valued at about $626,074,000. Amundi raised its holdings in Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NEM. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and raised their target price for the company from $50.00 to $60.00 in a report on Friday, April 11th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Raymond James restated an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday. Finally, TD Securities lowered their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Insiders Place Their Bets

In other Newmont news, 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares in the company, valued at $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

NEM traded down $0.33 during midday trading on Wednesday, hitting $52.63. 3,993,188 shares of the company traded hands, compared to its average volume of 9,825,675. The company's 50-day moving average is $48.12 and its 200 day moving average is $45.12. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The firm has a market capitalization of $59.33 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is 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.