106,300 Shares in Newmont Co. (NYSE:NEM) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 106,300 shares of the basic materials company’s stock, valued at approximately $3,956,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after buying an additional 797,445 shares during the period. Geode Capital Management LLC boosted its position in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares during the period. FMR LLC boosted its position in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Newmont by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,850,404 shares of the basic materials company’s stock worth $254,972,000 after purchasing an additional 92,354 shares in the last quarter. Finally, Ninety One UK Ltd increased its holdings in shares of Newmont by 27.5% during the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock valued at $128,649,000 after purchasing an additional 744,718 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 2.9 %

Shares of NYSE:NEM opened at $47.57 on Tuesday. The firm has a 50 day simple moving average of $43.39 and a 200 day simple moving average of $45.68. Newmont Co. has a 52 week low of $33.29 and a 52 week high of $58.72. 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 company has a market cap of $53.60 billion, a PE ratio of 16.23, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company 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%. As a group, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.10%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analysts Set New Price Targets

NEM has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Raymond James dropped their target price 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 assumed coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Finally, Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, seven have given 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insider Transactions at Newmont

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

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.