IFP Advisors Inc Grows Stock Holdings in Newmont Co. (NYSE:NEM)

IFP Advisors Inc boosted its holdings in Newmont Co. (NYSE:NEM) by 8.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 57,505 shares of the basic materials company’s stock after acquiring an additional 4,649 shares during the quarter. IFP Advisors Inc’s holdings in Newmont were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NEM. Zurich Insurance Group Ltd FI purchased a new position in Newmont in the 3rd quarter valued at approximately $98,011,000. Nordea Investment Management AB grew its position in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. FMR LLC grew its position in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Newmont by 57.1% during 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 purchasing an additional 865,213 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NEM shares. Royal Bank of Canada boosted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Scotiabank reduced their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. 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 price target for the company. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Newmont Stock Performance

Newmont stock opened at $42.90 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $48.83 billion, a PE ratio of 14.64, a P/E/G ratio of 0.41 and a beta of 0.52. The firm has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $46.39. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Insiders Place Their Bets

In other news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated 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 directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last three months. Insiders own 0.06% of the company’s stock.

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.