Bank of Montreal Can Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Bank of Montreal Can reduced its holdings in Newmont Co. (NYSE:NEM - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,213,268 shares of the basic materials company's stock after selling 167,489 shares during the quarter. Bank of Montreal Can owned 0.19% of Newmont worth $82,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cerity Partners LLC lifted its holdings in shares of Newmont by 20.4% during the 4th quarter. Cerity Partners LLC now owns 70,450 shares of the basic materials company's stock worth $2,622,000 after acquiring an additional 11,915 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its stake in Newmont by 205.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 122,000 shares of the basic materials company's stock worth $4,541,000 after purchasing an additional 82,000 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Newmont by 16.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,031,770 shares of the basic materials company's stock valued at $75,477,000 after purchasing an additional 279,590 shares during the last quarter. Rahlfs Capital LLC purchased a new position in shares of Newmont during the 4th quarter valued at about $609,000. Finally, Wedbush Securities Inc. lifted its position in Newmont by 70.8% in the 4th quarter. Wedbush Securities Inc. now owns 14,229 shares of the basic materials company's stock worth $530,000 after buying an additional 5,899 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

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Newmont Price Performance

Shares of NEM traded up $3.86 during mid-day trading on Friday, hitting $54.80. 31,726,645 shares of the stock were exchanged, compared to its average volume of 9,807,669. Newmont Co. has a 52-week low of $36.60 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 has a 50-day moving average of $46.17 and a two-hundred day moving average of $44.97. The company has a market cap of $61.77 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. On average, equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont's payout ratio is 34.13%.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares of the company's stock, valued at $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 in the last ninety days. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Scotiabank reduced their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. Raymond James raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and upped their price objective for the company from $50.00 to $60.00 in a research report on Friday. Finally, National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.55.

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.