DORCHESTER WEALTH MANAGEMENT Co Has $5.60 Million Position in Newmont Co. (NYSE:NEM)

DORCHESTER WEALTH MANAGEMENT Co cut its holdings in shares of Newmont Co. (NYSE:NEM) by 1.2% during the fourth quarter, Holdings Channel reports. The fund owned 150,410 shares of the basic materials company’s stock after selling 1,817 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Newmont were worth $5,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NEM. Zurich Insurance Group Ltd FI bought a new stake in Newmont in the 3rd quarter valued at $98,011,000. Nordea Investment Management AB boosted its stake in Newmont by 173.0% in 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 during the period. FMR LLC boosted its stake in Newmont by 21.1% in 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 during the period. International Assets Investment Management LLC boosted its stake in Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after purchasing an additional 964,815 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Newmont by 57.1% in 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 during the period. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on NEM. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Finally, The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.37.

Newmont Price Performance

Newmont stock opened at $45.25 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The stock has a market capitalization of $51.52 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The stock has a fifty day moving average of $41.56 and a 200-day moving average of $46.45.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations 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 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 issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Newmont’s payout ratio is presently 34.13%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.