Harbour Investments Inc. Has $142,000 Position in Newmont Co. (NYSE:NEM)

Harbour Investments Inc. boosted its stake in shares of Newmont Co. (NYSE:NEM) by 24.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,827 shares of the basic materials company’s stock after buying an additional 764 shares during the quarter. Harbour Investments Inc.’s holdings in Newmont were worth $142,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Thrivent Financial for Lutherans lifted its holdings in Newmont by 10.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company’s stock worth $4,775,000 after buying an additional 8,449 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Newmont by 14.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 152,118 shares of the basic materials company’s stock worth $8,131,000 after acquiring an additional 18,895 shares in the last quarter. Avior Wealth Management LLC raised its position 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 worth $27,000 after acquiring an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Newmont in the 3rd quarter worth about $28,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Newmont in the 3rd quarter worth about $1,079,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’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 value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business’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 value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 in the last 90 days. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $47.23 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a 50 day moving average price of $44.10 and a two-hundred day moving average price of $45.58. The firm has a market capitalization of $53.22 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $33.86 and a 52 week high of $58.72.

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

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Newmont’s payout ratio is presently 34.13%.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. Royal Bank of Canada lifted their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. TD Securities lowered their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Scotiabank lowered their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, 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 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Newmont currently 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.