Wealthfront Advisers LLC Boosts Holdings in Newmont Co. (NYSE:NEM)

Wealthfront Advisers LLC lifted its stake in Newmont Co. (NYSE:NEM) by 72.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,256 shares of the basic materials company’s stock after purchasing an additional 121,989 shares during the quarter. Wealthfront Advisers LLC’s holdings in Newmont were worth $10,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NEM. Atria Investments Inc increased its holdings in Newmont by 33.8% in the 3rd quarter. Atria Investments Inc now owns 8,352 shares of the basic materials company’s stock worth $446,000 after buying an additional 2,108 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Newmont by 5.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 7,725 shares of the basic materials company’s stock valued at $413,000 after buying an additional 394 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Newmont by 15.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 25,149 shares of the basic materials company’s stock valued at $1,344,000 after buying an additional 3,441 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in shares of Newmont during the 3rd quarter valued at about $211,000. Finally, Baker Avenue Asset Management LP purchased a new position in Newmont in the 3rd quarter worth approximately $214,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Up 2.5 %

Shares of NYSE NEM opened at $43.45 on Wednesday. Newmont Co. has a twelve month low of $33.29 and a twelve month high of $58.72. 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 fifty day simple moving average of $42.76 and a 200-day simple moving average of $45.87. The stock has a market capitalization of $48.96 billion, a PE ratio of 14.83, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Newmont’s dividend payout ratio is currently 34.13%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’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 value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEM. Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.