Newmont Co. (NYSE:NEM) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its position in Newmont Co. (NYSE:NEM) by 23.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 72,300 shares of the basic materials company’s stock after purchasing an additional 13,645 shares during the period. Advisors Asset Management Inc.’s holdings in Newmont were worth $2,691,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. boosted its holdings in shares of Newmont by 33.6% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 13,206 shares of the basic materials company’s stock worth $492,000 after buying an additional 3,319 shares during the period. Cadence Wealth Management LLC boosted its holdings in shares of Newmont by 3.9% in the fourth quarter. Cadence Wealth Management LLC now owns 14,071 shares of the basic materials company’s stock worth $524,000 after buying an additional 531 shares during the period. Cibc World Markets Corp boosted its holdings in shares of Newmont by 88.7% in the fourth quarter. Cibc World Markets Corp now owns 630,895 shares of the basic materials company’s stock worth $23,482,000 after buying an additional 296,645 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Newmont by 24.9% in the fourth quarter. Harbour Investments Inc. now owns 3,827 shares of the basic materials company’s stock worth $142,000 after buying an additional 764 shares during the period. Finally, Wellington Shields & Co. LLC boosted its holdings in shares of Newmont by 7.2% in the fourth quarter. Wellington Shields & Co. LLC now owns 38,950 shares of the basic materials company’s stock worth $1,450,000 after buying an additional 2,600 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NEM has been the subject of several research reports. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada raised their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. CLSA initiated coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, Raymond James decreased their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Newmont Trading Down 1.1 %

NYSE:NEM opened at $47.23 on Friday. Newmont Co. has a 12 month low of $33.77 and a 12 month high of $58.72. The firm has a market cap of $53.22 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. 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’s 50 day moving average is $44.10 and its 200-day moving average is $45.63.

Newmont (NYSE:NEM) last released its quarterly 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Equities analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is 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.