Quantbot Technologies LP Has $14.23 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Quantbot Technologies LP lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 487.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 382,250 shares of the basic materials company’s stock after purchasing an additional 317,131 shares during the quarter. Newmont accounts for approximately 0.5% of Quantbot Technologies LP’s portfolio, making the stock its 16th largest position. Quantbot Technologies LP’s holdings in Newmont were worth $14,227,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NEM. Sciencast Management LP grew its position in Newmont by 4.6% in the fourth quarter. Sciencast Management LP now owns 54,859 shares of the basic materials company’s stock valued at $2,042,000 after acquiring an additional 2,404 shares during the period. Summit Global Investments grew its holdings in shares of Newmont by 14.4% in the 4th quarter. Summit Global Investments now owns 8,657 shares of the basic materials company’s stock worth $322,000 after purchasing an additional 1,092 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $256,000. Magnetar Financial LLC acquired a new stake in shares of Newmont during the 4th quarter worth about $205,000. Finally, Teacher Retirement System of Texas lifted its holdings in Newmont by 773.7% during the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company’s stock valued at $2,511,000 after purchasing an additional 59,740 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. 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 on the stock. Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. CLSA started coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 4.6 %

NEM opened at $45.63 on Friday. The firm’s fifty day moving average is $43.03 and its two-hundred day moving average is $45.85. The firm has a market cap of $51.42 billion, a PE ratio of 15.57, a price-to-earnings-growth 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 debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. Newmont’s dividend payout ratio is presently 34.13%.

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.