TD Waterhouse Canada Inc. Trims Stock Position in Newmont Co. (NYSE:NEM)

TD Waterhouse Canada Inc. reduced its stake in shares of Newmont Co. (NYSE:NEM) by 8.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 386,282 shares of the basic materials company’s stock after selling 33,779 shares during the period. TD Waterhouse Canada Inc.’s holdings in Newmont were worth $14,313,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NEM. Van ECK Associates Corp grew its holdings in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the period. Geode Capital Management LLC boosted its position in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank purchased a new stake in Newmont in the 4th quarter worth approximately $626,074,000. Amundi grew its stake in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after purchasing an additional 1,507,708 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,154 shares of company stock worth $825,678 in the last 90 days. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

NEM stock opened at $55.25 on Tuesday. Newmont Co. has a 1 year low of $36.60 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market capitalization of $62.28 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The business has a 50 day simple moving average of $47.31 and a 200-day simple moving average of $45.03.

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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Analyst Ratings Changes

NEM has been the topic of several analyst reports. Scotiabank restated a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. BMO Capital Markets began coverage on Newmont in a research report on Wednesday, April 16th. They set an “outperform” rating and a $63.00 target price on the stock. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and raised their price objective for the company from $50.00 to $60.00 in a report on Friday, April 11th. Finally, Raymond James upped their target price on Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.02.

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.