The Manufacturers Life Insurance Company Buys 210,264 Shares of Newmont Co. (NYSE:NEM)

The Manufacturers Life Insurance Company raised its stake in shares of Newmont Co. (NYSE:NEMFree Report) by 29.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 932,106 shares of the basic materials company’s stock after purchasing an additional 210,264 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of Newmont worth $38,580,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Newmont in the third quarter valued at $597,000. Janney Montgomery Scott LLC boosted its position in shares of Newmont by 22.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after purchasing an additional 26,599 shares during the last quarter. KCM Investment Advisors LLC increased its stake in shares of Newmont by 5.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 8,945 shares of the basic materials company’s stock valued at $331,000 after acquiring an additional 489 shares during the last quarter. Pathstone Family Office LLC increased its position in shares of Newmont by 448.3% in the 3rd quarter. Pathstone Family Office LLC now owns 44,191 shares of the basic materials company’s stock valued at $1,634,000 after buying an additional 36,131 shares in the last quarter. Finally, Huntington National Bank raised its holdings in Newmont by 62.7% during the 3rd quarter. Huntington National Bank now owns 6,589 shares of the basic materials company’s stock worth $243,000 after buying an additional 2,540 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NEM. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Scotiabank upped their price objective on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein reduced their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. Royal Bank of Canada decreased their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Finally, Jefferies Financial Group began coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.36.

View Our Latest Stock Report on NEM

Newmont Stock Up 3.4 %

Shares of NEM stock opened at $42.50 on Friday. The stock has a 50 day simple moving average of $40.64 and a 200 day simple moving average of $37.84. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $45.92. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEMGet Free Report) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. Equities analysts expect that Newmont Co. will post 2.37 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Newmont Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEMFree Report).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.