Newmont Co. (NYSE:NEM) Shares Bought by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. grew its holdings in Newmont Co. (NYSE:NEM – Get Rating) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,377 shares of the basic materials company’s stock after purchasing an additional 4,537 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Newmont were worth $1,613,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NEM. Blair William & Co. IL lifted its holdings in shares of Newmont by 14.8% in the first quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock valued at $3,378,000 after purchasing an additional 5,484 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Newmont by 19.3% in the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock valued at $5,219,000 after purchasing an additional 10,692 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Newmont by 46.9% in the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after purchasing an additional 8,915 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Newmont by 7.2% in the first quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock worth $47,324,000 after acquiring an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Newmont by 25.8% in the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Credit Suisse Group upped their price target on shares of Newmont to $54.00 in a research note on Monday, November 21st. TD Securities raised shares of Newmont from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday, February 24th. Raymond James dropped their price target on shares of Newmont from $61.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. StockNews.com assumed coverage on shares of Newmont in a research report on Thursday. They set a “hold” rating on the stock. Finally, Barclays increased their target price on shares of Newmont from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, January 30th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.21.

Newmont Trading Down 0.7 %

Shares of NYSE:NEM opened at $45.78 on Friday. The company has a market cap of $36.37 billion, a P/E ratio of -84.78, a P/E/G ratio of 1.69 and a beta of 0.31. The stock’s 50-day moving average is $48.48 and its 200-day moving average is $45.74. Newmont Co. has a 52-week low of $37.45 and a 52-week high of $86.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.23.

Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.03). Newmont had a negative net margin of 3.60% and a positive return on equity of 6.98%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that Newmont Co. will post 2.24 earnings per share for the current year.

Newmont Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Wednesday, March 8th. Newmont’s payout ratio is presently -296.29%.

Insider Activity at Newmont

In related news, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total value of $132,750.00. Following the completion of the sale, the chief operating officer now owns 87,751 shares in the company, valued at $3,882,981.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Newmont news, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the transaction, the chief operating officer now owns 87,751 shares in the company, valued at $3,882,981.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total transaction of $486,750.00. Following the transaction, the chief executive officer now owns 322,039 shares of the company’s stock, valued at approximately $14,250,225.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,000 shares of company stock worth $1,294,720. Company insiders own 0.11% of the company’s stock.

Newmont Company Profile

(Get Rating)

Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. 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.