Colrain Capital LLC Invests $3.82 Million in Newmont Co. (NYSE:NEM)

Colrain Capital LLC bought a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 102,750 shares of the basic materials company’s stock, valued at approximately $3,824,000. Newmont accounts for approximately 3.7% of Colrain Capital LLC’s investment portfolio, making the stock its 11th largest holding.

Several other hedge funds have also added to or reduced their stakes in NEM. Cerity Partners LLC boosted its position in shares of Newmont by 49.3% in the third quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company’s stock valued at $3,129,000 after acquiring an additional 19,321 shares during the period. FMR LLC raised its stake in 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 purchasing an additional 1,226,697 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Newmont by 117.7% in the 3rd quarter. Townsquare Capital LLC now owns 23,299 shares of the basic materials company’s stock valued at $1,245,000 after purchasing an additional 12,596 shares during the period. Glenmede Trust Co. NA grew its position in shares of Newmont by 8.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 29,642 shares of the basic materials company’s stock worth $1,584,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Newmont by 11.1% during the third quarter. Public Sector Pension Investment Board now owns 49,238 shares of the basic materials company’s stock worth $2,632,000 after purchasing an additional 4,900 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 in the last three months. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $48.06 on Monday. The stock has a 50-day moving average price of $44.78 and a two-hundred day moving average price of $45.42. Newmont Co. has a 12 month low of $36.10 and a 12 month high of $58.72. The company has a market capitalization of $54.17 billion, a PE ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.32 billion. Analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NEM. National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. Scotiabank dropped their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Profile

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.