CANADA LIFE ASSURANCE Co Has $46.57 Million Holdings in Newmont Co. (NYSE:NEM)

CANADA LIFE ASSURANCE Co lifted its position in shares of Newmont Co. (NYSE:NEM) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,252,149 shares of the basic materials company’s stock after acquiring an additional 75,289 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.11% of Newmont worth $46,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEM. HHM Wealth Advisors LLC increased its stake in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the period. Redwood Park Advisors LLC bought a new stake in Newmont during the 4th quarter worth approximately $37,000. Promus Capital LLC acquired a new position in Newmont in the 4th quarter valued at approximately $38,000. McIlrath & Eck LLC lifted its holdings in shares of 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 during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Newmont during the fourth quarter worth $43,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.6 %

Shares of NYSE:NEM opened at $55.08 on Friday. The firm has a market cap of $62.08 billion, a P/E ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72. The business’s 50 day simple moving average is $47.14 and its two-hundred day simple moving average is $45.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, research analysts forecast 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 was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont’s payout ratio is 34.13%.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares in the company, valued at $2,144,199.77. This represents a 3.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,154 shares of company stock valued at $825,678. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. Raymond James raised their target price on Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. TD Securities cut their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Scotiabank reissued a “sector perform” rating on shares of Newmont in a research report on Monday. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Finally, UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.02.

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.