Cibc World Markets Corp Increases Holdings in Newmont Co. (NYSE:NEM)

Cibc World Markets Corp boosted its position in shares of Newmont Co. (NYSE:NEM) by 88.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 630,895 shares of the basic materials company’s stock after purchasing an additional 296,645 shares during the quarter. Cibc World Markets Corp owned about 0.06% of Newmont worth $23,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Studio Investment Management LLC increased its position in shares of Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 261 shares in the last quarter. Confluence Investment Management LLC boosted its stake in Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares during the last quarter. Howard Capital Management Inc. increased its holdings in shares of Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 292 shares in the last quarter. Intact Investment Management Inc. raised its stake in shares of Newmont by 21.4% in the fourth 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 last quarter. Finally, Fiduciary Financial Group LLC boosted its position in shares of Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after buying an additional 303 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Up 2.9 %

NEM opened at $47.57 on Tuesday. Newmont Co. has a fifty-two week low of $33.29 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market cap of $53.60 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The firm’s fifty day moving average is $43.39 and its 200 day moving average is $45.68.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. On average, sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NEM shares. Royal Bank of Canada boosted their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, CLSA assumed coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont 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.