Cannell & Spears LLC Has $1.98 Million Holdings in Newmont Co. (NYSE:NEM)

Cannell & Spears LLC raised its position in shares of Newmont Co. (NYSE:NEM) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,175 shares of the basic materials company’s stock after buying an additional 3,060 shares during the period. Cannell & Spears LLC’s holdings in Newmont were worth $1,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NEM. Edmond DE Rothschild Holding S.A. raised its position in Newmont by 11.7% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 148,780 shares of the basic materials company’s stock valued at $5,538,000 after purchasing an additional 15,542 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Newmont by 5,206.1% in the fourth quarter. Meeder Asset Management Inc. now owns 35,073 shares of the basic materials company’s stock valued at $1,305,000 after buying an additional 34,412 shares during the last quarter. Wellington Management Group LLP grew its holdings in Newmont by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 181,110 shares of the basic materials company’s stock worth $6,741,000 after acquiring an additional 2,877 shares during the last quarter. Bcwm LLC acquired a new stake in Newmont in the 4th quarter valued at about $947,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Newmont by 13.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,792 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 783 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value 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. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 over the last ninety days. Insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NEM shares. TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. National Bank Financial raised Newmont to a “hold” rating in a research note on Friday, March 21st. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, 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 research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Stock Up 0.4 %

Shares of NEM stock opened at $48.28 on Tuesday. Newmont Co. has a 12-month low of $36.10 and a 12-month high of $58.72. 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 firm has a fifty day moving average of $44.91 and a 200-day moving average of $45.39. The company has a market capitalization of $54.43 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 0.41 and a beta of 0.54.

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 the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont’s dividend payout ratio is currently 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.