Caisse DE Depot ET Placement DU Quebec Invests $10.15 Million in Newmont Co. (NYSE:NEM)

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 189,952 shares of the basic materials company's stock, valued at approximately $10,153,000.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont in the second quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont during the 2nd quarter worth approximately $27,000. Hoese & Co LLP acquired a new position in shares of Newmont during the third quarter valued at approximately $27,000. Avior Wealth Management LLC lifted its position in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Newmont in the third quarter worth approximately $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Up 1.6 %

Shares of NYSE:NEM traded up $0.66 during mid-day trading on Tuesday, reaching $41.57. 8,710,533 shares of the company were exchanged, compared to its average volume of 10,503,355. The firm has a market cap of $47.33 billion, a price-to-earnings ratio of -27.35, a P/E/G ratio of 0.35 and a beta of 0.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm's 50-day simple moving average is $48.54 and its 200 day simple moving average is $47.46.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The company's quarterly revenue was up 84.7% compared to the same quarter last year. Equities research analysts forecast that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. Newmont's dividend payout ratio is presently -65.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NEM shares. Argus upgraded shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 target price for the company in a research report on Thursday, August 29th. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CLSA initiated coverage on Newmont in a report on Friday. They set an "underperform" rating on the stock. JPMorgan Chase & Co. raised Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. Finally, Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.31.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company's stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares of the company's stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Company 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.