CIBC Private Wealth Group LLC Increases Stock Holdings in Newmont Co. (NYSE:NEM)

CIBC Private Wealth Group LLC raised its holdings in Newmont Co. (NYSE:NEM) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,792 shares of the basic materials company’s stock after purchasing an additional 783 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Newmont were worth $266,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Sanctuary Advisors LLC boosted its position in Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after buying an additional 18,722 shares during the period. Nordea Investment Management AB increased its position in Newmont by 173.0% during the fourth 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 period. Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 57.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the period. Brookstone Capital Management acquired a new stake in shares of Newmont during the fourth quarter worth about $245,000. Finally, Moody National Bank Trust Division grew its stake in shares of Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 2,645 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Royal Bank of Canada raised their price target on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday. 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. Raymond James increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday. Finally, The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.09.

Newmont Trading Down 8.4 %

Shares of NYSE:NEM opened at $44.25 on Monday. The company has a 50 day moving average of $45.34 and a 200-day moving average of $45.22. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72. The firm has a market cap of $49.88 billion, a P/E ratio of 15.10, 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 released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.32 billion. As a group, analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.26%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 over the last ninety days. Company insiders own 0.05% of the company’s stock.

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.