CIBC Asset Management Inc Has $9.16 Million Position in Newmont Co. (NYSE:NEM)

CIBC Asset Management Inc boosted its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 245,984 shares of the basic materials company's stock after acquiring an additional 5,598 shares during the period. CIBC Asset Management Inc's holdings in Newmont were worth $9,155,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $32,000. McIlrath & Eck LLC boosted its stake in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after purchasing an additional 361 shares during the period. Finally, HHM Wealth Advisors LLC boosted its stake in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Trading Down 5.9 %

NYSE NEM traded down $2.84 during trading hours on Friday, reaching $45.25. The company's stock had a trading volume of 17,229,932 shares, compared to its average volume of 9,447,639. The firm has a fifty day simple moving average of $41.46 and a 200-day simple moving average of $46.47. The stock has a market cap of $51.52 billion, a P/E ratio of -29.77, a P/E/G 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. 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 (NYSE:NEM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Equities analysts forecast that Newmont Co. will post 3.11 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company's stock, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 in the last quarter. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NEM shares. Scotiabank reduced their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and cut their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Cibc World Mkts cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.37.

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.