Advisors Asset Management Inc. Acquires 13,645 Shares of Newmont Co. (NYSE:NEM)

Advisors Asset Management Inc. raised its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 23.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,300 shares of the basic materials company's stock after purchasing an additional 13,645 shares during the period. Advisors Asset Management Inc.'s holdings in Newmont were worth $2,691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Retirement Planning Co of New England Inc. boosted its position in shares of Newmont by 33.6% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 13,206 shares of the basic materials company's stock worth $492,000 after buying an additional 3,319 shares during the period. Cadence Wealth Management LLC boosted its position in Newmont by 3.9% during the 4th quarter. Cadence Wealth Management LLC now owns 14,071 shares of the basic materials company's stock worth $524,000 after acquiring an additional 531 shares during the period. Cibc World Markets Corp grew its stake in shares of Newmont by 88.7% in the fourth quarter. Cibc World Markets Corp now owns 630,895 shares of the basic materials company's stock worth $23,482,000 after purchasing an additional 296,645 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Newmont by 24.9% during the fourth quarter. Harbour Investments Inc. now owns 3,827 shares of the basic materials company's stock valued at $142,000 after purchasing an additional 764 shares during the period. Finally, Wellington Shields & Co. LLC raised its stake in shares of Newmont by 7.2% during the fourth quarter. Wellington Shields & Co. LLC now owns 38,950 shares of the basic materials company's stock valued at $1,450,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They set an "underperform" rating on the stock. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank dropped their price objective on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.16.

Newmont Trading Down 0.4 %

Shares of NEM stock traded down $0.19 during trading hours on Wednesday, reaching $47.36. 6,822,859 shares of the stock traded hands, compared to its average volume of 9,360,612. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $53.38 billion, a PE ratio of 16.16, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 1-year low of $34.00 and a 1-year high of $58.72. The business has a fifty day moving average price of $44.40 and a 200 day moving average price of $45.48.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results 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. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given 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 2.11%. Newmont's payout ratio is presently 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now directly owns 47,916 shares of the company's stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

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.