Cadence Wealth Management LLC Buys 531 Shares of Newmont Co. (NYSE:NEM)

Cadence Wealth Management LLC raised its stake in shares of Newmont Co. (NYSE:NEM) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,071 shares of the basic materials company’s stock after purchasing an additional 531 shares during the quarter. Newmont accounts for about 0.3% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position. Cadence Wealth Management LLC’s holdings in Newmont were worth $524,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cibc World Markets Corp increased its holdings in shares of Newmont by 88.7% during the 4th quarter. Cibc World Markets Corp now owns 630,895 shares of the basic materials company’s stock worth $23,482,000 after purchasing an additional 296,645 shares during the period. Harbour Investments Inc. increased its holdings in shares of Newmont by 24.9% during the 4th quarter. Harbour Investments Inc. now owns 3,827 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 764 shares during the period. Wellington Shields & Co. LLC increased its holdings in shares of Newmont by 7.2% during the 4th quarter. Wellington Shields & Co. LLC now owns 38,950 shares of the basic materials company’s stock worth $1,450,000 after purchasing an additional 2,600 shares during the period. Intact Investment Management Inc. increased its holdings in shares of Newmont by 21.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 300 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Newmont by 33.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 399,644 shares of the basic materials company’s stock worth $14,875,000 after purchasing an additional 101,275 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the 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 sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of analyst reports. TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Finally, Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Trading Up 2.9 %

Shares of NYSE NEM opened at $47.57 on Tuesday. The company’s 50 day simple moving average is $43.39 and its 200 day simple moving average is $45.68. Newmont Co. has a fifty-two week low of $33.29 and a fifty-two week high of $58.72. The firm has a market capitalization of $53.60 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating 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 firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced 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 2.10%. The ex-dividend date is Tuesday, March 4th. Newmont’s payout ratio is presently 34.13%.

Newmont Company 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.