Ossiam Boosts Stake in Newmont Co. (NYSE:NEM)

Ossiam lifted its position in shares of Newmont Co. (NYSE:NEM) by 5.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 115,037 shares of the basic materials company’s stock after purchasing an additional 5,896 shares during the period. Ossiam’s holdings in Newmont were worth $7,227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. E Fund Management Co. Ltd. acquired a new stake in Newmont in the 1st quarter valued at about $85,000. Quilter Plc lifted its position in shares of Newmont by 14.2% during the 1st quarter. Quilter Plc now owns 17,509 shares of the basic materials company’s stock worth $1,056,000 after purchasing an additional 2,173 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Newmont by 37.5% during the 1st quarter. Quadrant Capital Group LLC now owns 3,044 shares of the basic materials company’s stock worth $183,000 after acquiring an additional 830 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Newmont during the 1st quarter worth $356,000. Finally, Formidable Asset Management LLC acquired a new stake in Newmont during the 1st quarter worth $219,000. 77.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of Newmont stock traded up $0.67 during midday trading on Thursday, hitting $57.04. The company had a trading volume of 59,247 shares, compared to its average volume of 6,506,893. Newmont Co. has a 1-year low of $53.03 and a 1-year high of $75.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 2.33. The business’s 50 day simple moving average is $56.63 and its two-hundred day simple moving average is $62.43. The stock has a market cap of $45.58 billion, a PE ratio of 15.79 and a beta of 0.23.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 22nd. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.07. Newmont had a net margin of 23.00% and a return on equity of 11.78%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, sell-side analysts expect that Newmont Co. will post 3.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 23rd. Stockholders of record on Thursday, September 9th were paid a $0.55 dividend. The ex-dividend date was Wednesday, September 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.86%. Newmont’s dividend payout ratio (DPR) is presently 82.71%.

Several analysts have recently weighed in on the stock. UBS Group set a $64.00 target price on shares of Newmont and gave the company a “neutral” rating in a report on Friday, July 23rd. Raymond James decreased their price objective on shares of Newmont from $81.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday. Zacks Investment Research downgraded shares of Newmont from a “hold” rating to a “sell” rating and set a $63.00 price target on the stock. in a report on Tuesday, July 27th. TD Securities lowered shares of Newmont from a “buy” rating to a “hold” rating and cut their price objective for the company from $74.00 to $70.00 in a research report on Friday, July 23rd. Finally, KeyCorp initiated coverage on shares of Newmont in a research report on Friday, September 24th. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $72.00.

In related news, CEO Thomas Ronald Palmer sold 7,000 shares of the firm’s stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $54.65, for a total value of $382,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Blake Rhodes sold 500 shares of Newmont stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $58.10, for a total value of $29,050.00. Following the sale, the senior vice president now directly owns 48,726 shares in the company, valued at $2,830,980.60. The disclosure for this sale can be found here. Insiders sold a total of 21,588 shares of company stock valued at $1,177,877 over the last quarter. 0.12% of the stock is owned by insiders.

Newmont Company Profile

Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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