Turim 21 Investimentos Ltda. Purchases New Position in Newmont Co. (NYSE:NEM)

Turim 21 Investimentos Ltda. bought a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, Holdings Channel.com reports. The firm bought 8,563 shares of the basic materials company’s stock, valued at approximately $319,000. Newmont comprises 0.1% of Turim 21 Investimentos Ltda.’s investment portfolio, making the stock its 28th largest position.

Several other institutional investors have also recently made changes to their positions in NEM. HighPoint Advisor Group LLC grew its stake in Newmont by 3.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 219 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after buying an additional 281 shares in the last quarter. Howard Capital Management Inc. grew its position in shares of Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after buying an additional 292 shares during the period. Intact Investment Management Inc. increased its stake in shares of Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 300 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its stake in shares of Newmont by 3.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 303 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and upped their price target for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.02.

Insider Transactions at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock worth $825,678 in the last quarter. Company insiders own 0.05% of the company’s stock.

Newmont Trading Up 0.3 %

Shares of NEM stock opened at $55.25 on Tuesday. The stock has a market capitalization of $62.28 billion, a P/E ratio of 18.86, a P/E/G ratio of 0.41 and a beta of 0.54. 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’s 50 day moving average is $47.31 and its 200 day moving average is $45.03. Newmont Co. has a 12-month low of $36.60 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last released its quarterly 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 firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

About Newmont

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.