Intact Investment Management Inc. Increases Stake in Newmont Co. (NYSE:NEM)

Intact Investment Management Inc. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 21.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the basic materials company’s stock after buying an additional 300 shares during the quarter. Intact Investment Management Inc.’s holdings in Newmont were worth $63,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. Avior Wealth Management LLC increased its position 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 valued at $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Newmont during the third quarter valued at about $28,000. HHM Wealth Advisors LLC increased its position 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 valued at $33,000 after buying an additional 350 shares during the period. Promus Capital LLC purchased a new position in shares of Newmont during the fourth quarter valued at about $38,000. Finally, McIlrath & Eck LLC increased its position 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 valued at $43,000 after buying an additional 361 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % 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, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.06% of the company’s stock.

Newmont Stock Up 1.4 %

Shares of Newmont stock opened at $46.27 on Friday. The company has a market cap of $52.14 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company’s 50 day moving average is $43.20 and its 200 day moving average is $45.76. Newmont Co. has a twelve month low of $33.29 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Research analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. Newmont’s dividend payout ratio is currently 34.13%.

Analysts Set New Price Targets

Several research firms recently commented on NEM. Royal Bank of Canada boosted 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 note on Friday, November 29th. They set an “underperform” rating on the stock. Raymond James dropped their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Company 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.