OVERSEA CHINESE BANKING Corp Ltd Purchases 1,397 Shares of Newmont Co. (NYSE:NEM)

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Newmont Co. (NYSE:NEM) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,366 shares of the basic materials company’s stock after acquiring an additional 1,397 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Newmont were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NEM. Zurich Insurance Group Ltd FI bought a new position in shares of Newmont in the 3rd quarter worth $98,011,000. Nordea Investment Management AB increased its holdings in shares of Newmont by 173.0% in 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 buying an additional 1,578,545 shares during the last quarter. Amundi increased its holdings in shares of Newmont by 14.0% in the 4th 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. FMR LLC increased its holdings in shares of Newmont by 21.1% in 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 last quarter. Finally, Ruffer LLP increased its holdings in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.5 %

Shares of NEM opened at $47.75 on Friday. The stock has a market capitalization of $53.80 billion, a P/E ratio of 16.30, a PEG ratio of 0.41 and a beta of 0.54. 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 $43.94 and a two-hundred day simple moving average of $45.67. Newmont Co. has a twelve month low of $33.77 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results 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 net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, research analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 2.09%. Newmont’s dividend payout ratio is 34.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Raymond James reduced their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, CLSA started coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction 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 approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. Company insiders own 0.06% of the company’s stock.

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.