Azimuth Capital Investment Management LLC Purchases 500 Shares of Newmont Co. (NYSE:NEM)

Azimuth Capital Investment Management LLC lifted its position in Newmont Co. (NYSE:NEM) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,200 shares of the basic materials company’s stock after acquiring an additional 500 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Newmont were worth $305,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Newmont in the 4th quarter worth about $626,074,000. Renaissance Technologies LLC purchased a new position in shares of Newmont in the 4th quarter worth about $76,281,000. Invesco Ltd. boosted its holdings in shares of Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after buying an additional 2,028,150 shares during the last quarter. Allianz SE purchased a new position in shares of Newmont in the 4th quarter worth about $65,385,000. Finally, Nordea Investment Management AB boosted its holdings in shares of 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 worth $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Finally, Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $54.09.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont 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 $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % 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 valued at $1,388,758 over the last three months. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

NEM stock opened at $48.77 on Thursday. The firm has a 50 day moving average of $45.78 and a 200-day moving average of $45.08. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $36.60 and a 12 month high of $58.72. The firm has a market capitalization of $54.97 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Tuesday, March 4th. 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.