Scheer Rowlett & Associates Investment Management Ltd. Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Newmont Co. (NYSE:NEM) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 273,653 shares of the basic materials company’s stock after acquiring an additional 5,573 shares during the period. Newmont comprises about 0.7% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 28th largest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Newmont were worth $10,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC boosted its stake in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Newmont in the 3rd quarter worth about $28,000. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in the 4th 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 during the last quarter. Promus Capital LLC bought a new position in Newmont during the 4th quarter valued at about $38,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated 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 directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,231 shares of company stock worth $1,388,758. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NEM shares. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Scotiabank decreased 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, Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Performance

Shares of NYSE NEM opened at $43.88 on Friday. The firm’s fifty day moving average is $42.53 and its two-hundred day moving average is $46.07. Newmont Co. has a 52-week low of $33.29 and a 52-week high of $58.72. The company has a market cap of $49.44 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.41 and a beta of 0.52. 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 posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 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.