CANADA LIFE ASSURANCE Co Raises Holdings in Newmont Co. (NYSE:NEM)

CANADA LIFE ASSURANCE Co grew its stake in Newmont Co. (NYSE:NEM) by 11.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,487,418 shares of the basic materials company’s stock after buying an additional 149,495 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.13% of Newmont worth $53,380,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Dynamic Advisor Solutions LLC grew its holdings in Newmont by 10.1% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 11,906 shares of the basic materials company’s stock worth $480,000 after acquiring an additional 1,095 shares in the last quarter. SG Americas Securities LLC raised its stake in Newmont by 1,770.8% in the fourth quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock valued at $2,635,000 after buying an additional 60,261 shares in the last quarter. Mutual Advisors LLC lifted its holdings in Newmont by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 20,322 shares of the basic materials company’s stock worth $841,000 after buying an additional 495 shares during the last quarter. CoreCap Advisors LLC increased its holdings in shares of Newmont by 16.7% in the 4th quarter. CoreCap Advisors LLC now owns 17,530 shares of the basic materials company’s stock valued at $726,000 after acquiring an additional 2,510 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Newmont by 25.0% during the 4th quarter. Raymond James & Associates now owns 663,133 shares of the basic materials company’s stock worth $27,447,000 after acquiring an additional 132,568 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock traded up $0.67 on Wednesday, reaching $47.74. 11,654,160 shares of the company’s stock were exchanged, compared to its average volume of 11,332,047. The stock has a fifty day moving average of $43.28 and a 200-day moving average of $38.68. The firm has a market cap of $55.05 billion, a PE ratio of -17.88, a P/E/G ratio of 0.37 and a beta of 0.47. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $48.97.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business’s revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. As a group, equities analysts predict that Newmont Co. will post 2.64 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the sale, the chief executive officer now directly owns 331,469 shares in the company, valued at approximately $13,964,788.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $50.00 in a report on Monday, June 17th. BMO Capital Markets dropped their price target on Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Finally, Sanford C. Bernstein lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $50.21.

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.