Gotham Asset Management LLC Purchases 201,180 Shares of Newmont Co. (NYSE:NEM)

Gotham Asset Management LLC boosted its position in Newmont Co. (NYSE:NEM) by 145.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 339,542 shares of the basic materials company’s stock after buying an additional 201,180 shares during the quarter. Gotham Asset Management LLC’s holdings in Newmont were worth $12,638,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in Newmont by 1.6% during the fourth 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 boosted its holdings in Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after buying an additional 1,213,397 shares during the last quarter. Norges Bank bought a new position in Newmont during the fourth quarter worth about $626,074,000. Northern Trust Corp boosted its holdings in Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock worth $474,263,000 after buying an additional 1,309,177 shares during the last quarter. Finally, Amundi boosted its holdings in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after buying an additional 1,507,708 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This trade represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the transaction, the director now directly owns 47,257 shares of the company’s stock, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,154 shares of company stock valued at $328,840. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NEM. Raymond James restated an “outperform” rating and set a $66.00 target price on shares of Newmont in a report on Friday, April 25th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada raised their target price on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Finally, Cfra Research raised Newmont to a “strong-buy” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.63.

Newmont Trading Up 2.1%

Shares of NYSE:NEM opened at $53.93 on Monday. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $49.69 and its 200 day simple moving average is $44.88. The firm has a market cap of $60.02 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 22.42%.

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.