Apriem Advisors Invests $411,000 in Newmont Co. (NYSE:NEM)

Apriem Advisors bought a new position in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 11,032 shares of the basic materials company’s stock, valued at approximately $411,000.

A number of other institutional investors also recently modified their holdings of NEM. Whipplewood Advisors LLC bought a new position in Newmont in the fourth quarter valued at $79,000. National Pension Service increased its position in shares of Newmont by 11.8% during the 4th quarter. National Pension Service now owns 2,831,544 shares of the basic materials company’s stock worth $105,390,000 after purchasing an additional 298,467 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Newmont by 0.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 214,444 shares of the basic materials company’s stock worth $7,982,000 after purchasing an additional 1,357 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Newmont by 42.0% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 21,677 shares of the basic materials company’s stock valued at $807,000 after buying an additional 6,415 shares during the last quarter. Finally, Skylands Capital LLC grew its stake in shares of Newmont by 2.5% in the fourth quarter. Skylands Capital LLC now owns 62,375 shares of the basic materials company’s stock valued at $2,322,000 after buying an additional 1,500 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

NYSE:NEM opened at $43.55 on Thursday. Newmont Co. has a 52 week low of $29.42 and a 52 week 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 firm’s 50-day simple moving average is $41.82 and its 200 day simple moving average is $46.37. The firm has a market cap of $49.58 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. The company 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%. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.30%. Newmont’s dividend payout ratio is presently 34.13%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares of the company’s stock, valued at $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.16.

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.