Ruffer LLP Raises Position in Newmont Co. (NYSE:NEM)

Ruffer LLP grew its holdings in Newmont Co. (NYSE:NEM) by 19.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,085,101 shares of the basic materials company’s stock after purchasing an additional 1,164,870 shares during the period. Newmont makes up about 9.5% of Ruffer LLP’s portfolio, making the stock its biggest position. Ruffer LLP’s holdings in Newmont were worth $263,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Zurich Insurance Group Ltd FI bought a new stake in Newmont during the 3rd quarter worth $98,011,000. Nordea Investment Management AB grew its position in Newmont by 173.0% during 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 acquiring an additional 1,578,545 shares during the last quarter. Amundi grew its position in Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. FMR LLC lifted its holdings in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Newmont in the 4th quarter valued at about $35,117,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.1 %

Shares of NEM opened at $43.88 on Friday. The stock has a market capitalization of $49.44 billion, a P/E ratio of 14.98, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a twelve month low of $33.29 and a twelve 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 firm has a fifty day simple moving average of $42.53 and a two-hundred day simple moving average of $46.03.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is presently 34.13%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s 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 $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was 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, COO Natascha Viljoen sold 9,000 shares of the business’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 $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Bernstein Bank increased their price objective on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. 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 research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.