Bank of Montreal Can Trims Stake in Newmont Co. (NYSE:NEM)

Bank of Montreal Can reduced its stake in Newmont Co. (NYSE:NEM) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,213,268 shares of the basic materials company’s stock after selling 167,489 shares during the period. Bank of Montreal Can owned 0.19% of Newmont worth $82,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares in the last quarter. Geode Capital Management LLC raised its holdings in Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank purchased a new position in Newmont during the fourth quarter valued at $626,074,000. Amundi boosted its holdings in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after buying an additional 1,507,708 shares in the last quarter. Finally, Ruffer LLP grew its position in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 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 filing with the SEC, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of the company’s 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 $360,000.00. Following the sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last three months. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on NEM shares. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. Royal Bank of Canada raised their price objective on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Raymond James raised their price target on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have given 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 target price of $54.09.

Newmont Stock Up 0.1 %

NEM opened at $44.91 on Wednesday. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $45.55 and a 200-day moving average price of $45.09. The stock has a market capitalization of $50.63 billion, a price-to-earnings ratio of 15.33, a PEG 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 during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.23%. Newmont’s payout ratio is 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.