Colrain Capital LLC Acquires New Position in Newmont Co. (NYSE:NEM)

Colrain Capital LLC acquired a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 102,750 shares of the basic materials company's stock, valued at approximately $3,824,000. Newmont makes up 3.7% of Colrain Capital LLC's investment portfolio, making the stock its 11th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC grew its position in shares of Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock valued at $439,000 after purchasing an additional 281 shares during the period. Howard Capital Management Inc. boosted its stake in Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after buying an additional 292 shares during the last quarter. Intact Investment Management Inc. grew its holdings in Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock valued at $63,000 after buying an additional 300 shares during the period. Fiduciary Financial Group LLC increased its stake in shares of Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock valued at $338,000 after acquiring an additional 303 shares during the last quarter. Finally, Conning Inc. increased its stake in shares of Newmont by 6.0% during the 4th quarter. Conning Inc. now owns 5,460 shares of the basic materials company's stock valued at $203,000 after acquiring an additional 311 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NEM shares. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. National Bank Financial raised shares of Newmont to a "hold" rating in a research note on Friday, March 21st. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 target price on the stock. Royal Bank of Canada lifted their target price on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Finally, Scotiabank dropped their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.16.

Newmont Stock Up 0.0 %

Shares of NYSE NEM traded up $0.01 during trading on Tuesday, reaching $48.29. 9,302,888 shares of the stock were exchanged, compared to its average volume of 9,696,475. The company has a market capitalization of $54.44 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The business's 50-day moving average price is $45.03 and its 200 day moving average price is $45.35. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a twelve month low of $36.44 and a twelve month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share 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. As a group, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's payout ratio is 34.13%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company's stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by corporate insiders.

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.