Newmont Co. (NYSE:NEM) Shares Bought by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Newmont Co. (NYSE:NEM) by 60.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,964 shares of the basic materials company’s stock after purchasing an additional 29,077 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Newmont were worth $3,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC raised its holdings in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont during the third quarter worth approximately $28,000. HHM Wealth Advisors LLC raised its holdings in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC acquired a new stake in Newmont during the fourth quarter worth approximately $38,000. Finally, McIlrath & Eck LLC raised its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Bernstein Bank raised their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $43.88 on Monday. The firm’s fifty day moving average price is $42.53 and its 200 day moving average price is $45.99. Newmont Co. has a 1-year low of $33.29 and a 1-year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market cap of $49.44 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. On average, sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. Newmont’s 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.