Newmont Co. (NYSE:NEM) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Newmont Co. (NYSE:NEM) by 59.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 959,038 shares of the basic materials company’s stock after purchasing an additional 356,826 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Newmont were worth $35,695,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont during the 3rd quarter worth approximately $28,000. HHM Wealth Advisors LLC lifted its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Promus Capital LLC acquired a new stake in Newmont during the 4th quarter worth approximately $38,000. Finally, McIlrath & Eck LLC lifted its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’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 transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Scotiabank reduced their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CLSA initiated coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. Finally, TD Securities reduced their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Trading Down 3.6 %

NYSE NEM opened at $42.30 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm’s fifty day moving average price is $42.63 and its 200 day moving average price is $45.93. The company has a market capitalization of $47.67 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

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.