CIBC Asset Management Inc Buys 26,914 Shares of Newmont Co. (NYSE:NEM)

CIBC Asset Management Inc boosted its position in shares of Newmont Co. (NYSE:NEM) by 12.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,386 shares of the basic materials company’s stock after buying an additional 26,914 shares during the quarter. CIBC Asset Management Inc’s holdings in Newmont were worth $12,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in Newmont by 58.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,492 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 3,887 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Newmont by 22.9% during the third quarter. Metis Global Partners LLC now owns 111,873 shares of the basic materials company’s stock valued at $5,980,000 after buying an additional 20,876 shares during the last quarter. Huntington National Bank raised its holdings in shares of Newmont by 82.4% in the third quarter. Huntington National Bank now owns 10,176 shares of the basic materials company’s stock worth $544,000 after buying an additional 4,598 shares during the period. Regal Partners Ltd lifted its stake in shares of Newmont by 9.1% during the 3rd quarter. Regal Partners Ltd now owns 1,169,221 shares of the basic materials company’s stock worth $62,495,000 after acquiring an additional 97,590 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Newmont in the third quarter worth about $374,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group upped their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 in the last 90 days. Insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.6 %

Shares of NYSE:NEM opened at $40.93 on Friday. The business’s 50-day moving average is $51.11 and its 200 day moving average is $47.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a market capitalization of $46.60 billion, a P/E ratio of -26.93, a P/E/G ratio of 0.34 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. On average, research analysts predict that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Newmont Profile

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.