CANADA LIFE ASSURANCE Co Raises Position in Newmont Co. (NYSE:NEM)

CANADA LIFE ASSURANCE Co increased its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,252,149 shares of the basic materials company's stock after purchasing an additional 75,289 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.11% of Newmont worth $46,567,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its stake in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after buying an additional 361 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Redwood Park Advisors LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $37,000. Promus Capital LLC acquired a new stake in Newmont during the fourth quarter worth about $38,000. Finally, Kestra Investment Management LLC acquired a new position in Newmont in the 4th quarter valued at about $43,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on NEM shares. Royal Bank of Canada upped their price objective on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $60.00 in a report on Friday, April 11th. BMO Capital Markets began coverage on shares of Newmont in a research note on Wednesday. They set an "outperform" rating and a $63.00 target price for the company. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Finally, TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $55.02.

Newmont Price Performance

Shares of NYSE NEM traded down $0.87 during trading on Friday, reaching $55.08. The company had a trading volume of 14,364,376 shares, compared to its average volume of 9,878,623. 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 stock has a market capitalization of $62.08 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a twelve month low of $36.60 and a twelve month high of $58.72. The stock has a 50-day moving average price of $47.14 and a two-hundred day moving average price of $45.02.

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

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. 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 currently 34.13%.

Newmont 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.