OVERSEA CHINESE BANKING Corp Ltd Acquires 1,397 Shares of Newmont Co. (NYSE:NEM)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Newmont Co. (NYSE:NEM) by 10.8% in the 4th quarter, Holdings Channel reports. The fund owned 14,366 shares of the basic materials company’s stock after buying an additional 1,397 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Newmont were worth $544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC increased its stake in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Newmont during the 3rd quarter valued at about $28,000. HHM Wealth Advisors LLC increased its stake in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC bought a new stake in Newmont during the 4th quarter valued at about $38,000. Finally, McIlrath & Eck LLC increased its stake in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

NEM opened at $47.75 on Friday. 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 company has a market cap of $53.80 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.41 and a beta of 0.54. The company’s 50 day moving average is $43.94 and its 200 day moving average is $45.67. Newmont Co. has a 12-month low of $33.77 and a 12-month high of $58.72.

Newmont (NYSE:NEM) 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 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 for 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NEM shares. Raymond James reduced their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Scotiabank reduced their price target 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. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Finally, CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.