Meeder Asset Management Inc. Has $1.31 Million Stock Position in Newmont Co. (NYSE:NEM)

Meeder Asset Management Inc. grew its stake in shares of Newmont Co. (NYSE:NEM) by 5,206.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,073 shares of the basic materials company’s stock after acquiring an additional 34,412 shares during the period. Meeder Asset Management Inc.’s holdings in Newmont were worth $1,305,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NEM. HHM Wealth Advisors LLC lifted its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of Newmont during the fourth quarter worth $38,000. McIlrath & Eck LLC boosted its position in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $43,000. Finally, Assetmark Inc. grew its stake in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 820 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $48.06 on Monday. The firm has a 50 day simple moving average of $44.78 and a 200 day simple moving average of $45.42. The company has a market cap of $54.17 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $36.10 and a one year high of $58.72. 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 (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating 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 company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 in the last ninety days. Company insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

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