Russell Investments Group Ltd. Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Russell Investments Group Ltd. increased its holdings in shares of Newmont Co. (NYSE:NEM) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,031,770 shares of the basic materials company’s stock after acquiring an additional 279,590 shares during the quarter. Russell Investments Group Ltd.’s holdings in Newmont were worth $75,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in Newmont during the fourth quarter worth about $626,074,000. Zurich Insurance Group Ltd FI bought a new position in shares of Newmont during the 3rd quarter valued at approximately $98,011,000. Allianz SE purchased a new stake in shares of Newmont during the 4th quarter worth approximately $65,385,000. Nordea Investment Management AB raised its holdings in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the period. Finally, Amundi lifted its stake in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on NEM. TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.09.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

NYSE: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 P/E/G ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a fifty day moving average of $45.34 and a 200 day moving average of $45.28. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72.

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

Newmont Announces Dividend

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

Newmont 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.