Angeles Investment Advisors LLC Raises Stock Position in Newmont Co. (NYSE:NEM)

Angeles Investment Advisors LLC raised its holdings in shares of Newmont Co. (NYSE:NEM) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,631 shares of the basic materials company’s stock after buying an additional 1,754 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Newmont were worth $545,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC grew its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. McIlrath & Eck LLC grew 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 buying an additional 361 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of Newmont during the fourth quarter worth $38,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Newmont during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Finally, TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the 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 $131,130.00. Following the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the 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 completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.1 %

Shares of NEM opened at $47.23 on Monday. The stock has a market capitalization of $53.24 billion, a PE ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1 year low of $33.86 and a 1 year 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’s 50-day simple moving average is $44.10 and its 200-day simple moving average is $45.54.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. The business 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%. Analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 dividend on an annualized basis and a dividend yield of 2.12%. Newmont’s payout ratio is 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.