Townsquare Capital LLC Acquires 7,314 Shares of Newmont Co. (NYSE:NEM)

Townsquare Capital LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,613 shares of the basic materials company’s stock after buying an additional 7,314 shares during the quarter. Townsquare Capital LLC’s holdings in Newmont were worth $1,139,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC boosted its position 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 purchasing an additional 1,213,397 shares during the period. Norges Bank purchased a new position in shares of Newmont in the fourth quarter worth about $626,074,000. Amundi raised its position in shares of 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 period. Finally, Invesco Ltd. lifted its stake in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.6 %

Shares of NYSE:NEM opened at $55.08 on Friday. The firm has a fifty day moving average of $46.95 and a 200 day moving average of $45.13. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72. 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 firm has a market capitalization of $62.08 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion for 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%. As a group, research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,154 shares of company stock valued at $825,678. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Scotiabank reissued a “sector perform” rating on shares of Newmont in a report on Monday. Raymond James boosted their price objective on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Royal Bank of Canada upped their price target on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. Finally, The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $55.02.

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.