Advisors Asset Management Inc. Grows Stock Holdings in Newmont Co. (NYSE:NEM)

Advisors Asset Management Inc. boosted its position in shares of Newmont Co. (NYSE:NEM) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,300 shares of the basic materials company’s stock after purchasing an additional 13,645 shares during the period. Advisors Asset Management Inc.’s holdings in Newmont were worth $2,691,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares in the last quarter. Geode Capital Management LLC grew its holdings in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after purchasing an additional 326,243 shares in the last quarter. Amundi grew its holdings in 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 purchasing an additional 1,507,708 shares in the last quarter. Ruffer LLP grew its holdings in Newmont by 19.7% during the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after purchasing an additional 1,164,870 shares in the last quarter. Finally, FMR LLC boosted its stake in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Newmont Stock Down 1.1 %

Newmont stock opened at $47.23 on Friday. The stock has a market cap of $53.22 billion, a price-to-earnings ratio of 16.12, a PEG 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 company’s 50-day moving average price is $44.10 and its two-hundred day moving average price is $45.63. Newmont Co. has a 52 week low of $33.77 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm 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%. On average, analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.12%. Newmont’s payout ratio is 34.13%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was 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 directly owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,231 shares of company stock valued at $1,388,758. Company insiders own 0.06% of the company’s stock.

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.