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

Cibc World Markets Corp increased its stake in Newmont Co. (NYSE:NEM) by 88.7% in the 4th quarter, HoldingsChannel reports. The fund owned 630,895 shares of the basic materials company’s stock after acquiring an additional 296,645 shares during the period. Cibc World Markets Corp’s holdings in Newmont were worth $23,482,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its holdings in shares of Newmont by 24.9% in the 4th quarter. Harbour Investments Inc. now owns 3,827 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 764 shares during the last quarter. Wellington Shields & Co. LLC raised its position in Newmont by 7.2% in the 4th quarter. Wellington Shields & Co. LLC now owns 38,950 shares of the basic materials company’s stock worth $1,450,000 after purchasing an additional 2,600 shares during the period. Intact Investment Management Inc. lifted its stake in 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. Commonwealth Equity Services LLC boosted its position in shares of Newmont by 33.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 399,644 shares of the basic materials company’s stock valued at $14,875,000 after buying an additional 101,275 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Newmont by 2.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 235,047 shares of the basic materials company’s stock valued at $8,697,000 after buying an additional 5,900 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NEM. Scotiabank dropped their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Royal Bank of Canada boosted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 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 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 $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Up 2.9 %

NEM opened at $47.57 on Tuesday. The stock has a fifty day moving average price of $43.39 and a 200-day moving average price of $45.68. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market cap of $53.60 billion, a price-to-earnings ratio of 16.23, a PEG 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 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 analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared 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. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

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.