Newmont Co. (NYSE:NEM) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 59.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 959,038 shares of the basic materials company’s stock after purchasing an additional 356,826 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Newmont worth $35,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC lifted its position in 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 purchasing an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the third quarter worth about $28,000. HHM Wealth Advisors LLC raised its position in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the period. Promus Capital LLC acquired a new position in shares of Newmont in the fourth quarter worth about $38,000. Finally, McIlrath & Eck LLC raised its position in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 3.6 %

Shares of NYSE NEM opened at $42.30 on Tuesday. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72. The stock has a market cap of $47.67 billion, a PE ratio of 14.44, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $42.63 and a 200 day moving average of $45.93.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, sell-side analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred 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 owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Finally, CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.16.

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.