Geode Capital Management LLC Buys 1,213,397 Shares of Newmont Co. (NYSE:NEM)

Geode Capital Management LLC raised its stake in Newmont Co. (NYSE:NEM) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 24,697,779 shares of the basic materials company’s stock after acquiring an additional 1,213,397 shares during the period. Geode Capital Management LLC’s holdings in Newmont were worth $919,484,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Nemes Rush Group LLC boosted its position in Newmont by 206.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,013 shares of the basic materials company’s stock valued at $75,000 after buying an additional 1,357 shares during the period. HighPoint Advisor Group LLC raised its stake in shares of 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 during the last quarter. Rodgers Brothers Inc. boosted its holdings in shares of Newmont by 68.0% during the fourth quarter. Rodgers Brothers Inc. now owns 34,720 shares of the basic materials company’s stock worth $1,292,000 after purchasing an additional 14,050 shares during the period. Colrain Capital LLC bought a new stake in shares of Newmont in the fourth quarter worth about $3,824,000. Finally, Cannell & Spears LLC increased its holdings in Newmont by 6.1% during the 4th quarter. Cannell & Spears LLC now owns 53,175 shares of the basic materials company’s stock valued at $1,979,000 after purchasing an additional 3,060 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Up 0.9 %

Shares of NYSE:NEM opened at $48.74 on Thursday. 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 market cap of $54.94 billion, a P/E ratio of 16.63, a PEG ratio of 0.41 and a beta of 0.54. The stock’s fifty day moving average price is $45.17 and its 200-day moving average price is $45.37.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) 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 business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Sell-side analysts expect that Newmont Co. will post 3.45 earnings per share 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 issued 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 2.05%. Newmont’s payout ratio is 34.13%.

Insider Buying and Selling

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

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.