Dynamic Technology Lab Private Ltd Raises Stock Position in Newmont Co. (NYSE:NEM)

Dynamic Technology Lab Private Ltd grew its holdings in Newmont Co. (NYSE:NEM) by 83.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,078 shares of the basic materials company’s stock after acquiring an additional 16,818 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Newmont were worth $1,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NEM. HighPoint Advisor Group LLC grew its stake in Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 219 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. increased its holdings in shares of Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 292 shares during the last quarter. Intact Investment Management Inc. lifted its position in shares of Newmont by 21.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after buying an additional 300 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its stake in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after buying an additional 303 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 over the last three months. 0.05% of the stock is owned by corporate insiders.

Newmont Trading Down 8.4 %

Shares of NEM opened at $44.25 on Friday. The firm has a market capitalization of $49.88 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. The company has a 50-day moving average of $45.34 and a 200 day moving average of $45.28.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NEM. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada upped their price target on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Raymond James upped their target price on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.09.

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.