Scotia Capital Inc. Reduces Position in Newmont Co. (NYSE:NEM)

Scotia Capital Inc. lowered its holdings in Newmont Co. (NYSE:NEM - Free Report) by 42.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,758 shares of the basic materials company's stock after selling 56,284 shares during the quarter. Scotia Capital Inc.'s holdings in Newmont were worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its position in Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after buying an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after purchasing an additional 865,213 shares during the period. Brookstone Capital Management acquired a new position in Newmont in the 4th quarter worth about $245,000. Finally, Moody National Bank Trust Division increased its position in shares of Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock worth $822,000 after purchasing an additional 2,645 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEM. BMO Capital Markets initiated coverage on Newmont in a research note on Wednesday. They set an "outperform" rating and a $63.00 target price for the company. TD Securities lowered their price target on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Finally, StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.02.

Newmont Stock Up 3.0 %

Shares of NEM traded up $1.63 during midday trading on Wednesday, hitting $56.21. The company had a trading volume of 8,354,262 shares, compared to its average volume of 11,480,579. Newmont Co. has a 52 week low of $36.60 and a 52 week 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 company's 50 day moving average price is $46.56 and its 200 day moving average price is $45.04. The stock has a market cap of $63.36 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 0.41 and a beta of 0.54.

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 (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, equities research analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company 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 was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. Newmont's dividend payout ratio (DPR) is 34.13%.

Insider Transactions at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now owns 136,967 shares of the company's stock, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. Corporate insiders own 0.05% 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.