Royal London Asset Management Ltd. Acquires 22,682 Shares of Newmont Co. (NYSE:NEM)

Royal London Asset Management Ltd. lifted its position in Newmont Co. (NYSE:NEM) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 497,828 shares of the basic materials company’s stock after purchasing an additional 22,682 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Newmont were worth $18,529,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NEM. Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Newmont in the third quarter worth $28,000. HHM Wealth Advisors LLC increased its holdings in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Promus Capital LLC bought a new position in Newmont in the fourth quarter valued at $38,000. Finally, McIlrath & Eck LLC increased its stake in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.1 %

NYSE NEM opened at $47.23 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $53.22 billion, a PE ratio of 16.12, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $33.77 and a 1 year high of $58.72. The business’s 50-day moving average is $44.10 and its 200 day moving average is $45.63.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.12%. Newmont’s payout ratio is 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred 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 sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on NEM. Raymond James reduced their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. CLSA began coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.16.

About Newmont

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.