Intact Investment Management Inc. Raises Position in Newmont Co. (NYSE:NEM)

Intact Investment Management Inc. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,700 shares of the basic materials company’s stock after purchasing an additional 300 shares during the period. Intact Investment Management Inc.’s holdings in Newmont were worth $63,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC increased its stake in shares of Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Newmont by 173.0% during 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 purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Brookstone Capital Management purchased a new stake in shares of Newmont during the 4th quarter worth approximately $245,000. Finally, Moody National Bank Trust Division increased its stake in shares of Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 over the last three months. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Royal Bank of Canada lifted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Scotiabank reduced their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Stock Performance

NYSE NEM opened at $46.27 on Friday. Newmont Co. has a 52-week low of $33.29 and a 52-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 company has a market capitalization of $52.14 billion, a P/E ratio of 15.79, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a fifty day moving average of $43.20 and a 200-day moving average of $45.76.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during 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, equities research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 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.