Alberta Investment Management Corp Grows Holdings in Newmont Co. (NYSE:NEM)

Alberta Investment Management Corp boosted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 341,601 shares of the basic materials company's stock after buying an additional 89,201 shares during the quarter. Alberta Investment Management Corp's holdings in Newmont were worth $12,714,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NEM. Waverton Investment Management Ltd lifted its position in shares of Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after buying an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB raised its position in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after buying an additional 865,213 shares in the last quarter. Finally, Red Cedar Investment Management LLC purchased a new stake in shares of Newmont during the third quarter worth $1,263,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Down 5.9 %

NEM stock traded down $2.84 during midday trading on Friday, hitting $45.25. The stock had a trading volume of 16,838,148 shares, compared to its average volume of 9,306,538. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The business has a 50-day moving average of $41.46 and a two-hundred day moving average of $46.47. The firm has a market cap of $51.52 billion, a price-to-earnings ratio of -29.77, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. As a group, equities research analysts forecast that Newmont Co. will post 3.11 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.21%. Newmont's dividend payout ratio is -65.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NEM shares. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and reduced their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. Cibc World Mkts downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $53.37.

Insiders Place Their Bets

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at approximately $5,874,514.63. The trade was a 6.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,154 shares of company stock valued at $1,166,843. Corporate insiders own 0.06% of the company's stock.

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.