Canada Pension Plan Investment Board Raises Holdings in Newmont Co. (NYSE:NEM)

Canada Pension Plan Investment Board raised its holdings in Newmont Co. (NYSE:NEM - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,966,140 shares of the basic materials company's stock after purchasing an additional 62,900 shares during the quarter. Canada Pension Plan Investment Board owned 0.17% of Newmont worth $73,180,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the last quarter. Norges Bank purchased a new stake in Newmont in the 4th quarter valued at about $626,074,000. Amundi boosted its holdings in Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after acquiring an additional 1,507,708 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the business's 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 completion of the transaction, the chief operating officer now directly owns 136,967 shares in the company, valued at $5,874,514.63. The trade was a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now 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 19,154 shares of company stock worth $825,678 over the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Stock Down 1.6 %

NEM traded down $0.87 during trading hours on Friday, hitting $55.08. 14,364,376 shares of the company's stock were exchanged, compared to its average volume of 9,878,623. Newmont Co. has a 1-year low of $36.60 and a 1-year high of $58.72. 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 stock's 50-day moving average is $47.14 and its two-hundred day moving average is $45.02. The stock has a market cap of $62.08 billion, a price-to-earnings ratio of 18.80, a PEG 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. Sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 dividend yield of 1.82%. Newmont's dividend payout ratio is 34.13%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEM. Raymond James boosted their target price on Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. BMO Capital Markets initiated coverage on shares of Newmont in a research note on Wednesday. They issued an "outperform" rating and a $63.00 target price for the company. The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. Finally, UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and three have given 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 $55.02.

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.