Cannell & Spears LLC Has $1.98 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Cannell & Spears LLC increased its position in Newmont Co. (NYSE:NEM) by 6.1% during the fourth quarter, Holdings Channel reports. The firm owned 53,175 shares of the basic materials company’s stock after buying an additional 3,060 shares during the quarter. Cannell & Spears LLC’s holdings in Newmont were worth $1,979,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC boosted its stake in shares of Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares during the period. Nordea Investment Management AB boosted its position in Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Brookstone Capital Management bought a new position in shares of Newmont in the fourth quarter valued at about $245,000. Finally, Moody National Bank Trust Division lifted its stake in shares of Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock worth $822,000 after buying an additional 2,645 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Royal Bank of Canada increased their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. National Bank Financial upgraded Newmont to a “hold” rating in a research report on Friday, March 21st. Finally, Scotiabank dropped their target price 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred 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 sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last three months. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Up 0.4 %

Shares of NEM opened at $48.28 on Tuesday. The firm has a 50 day simple moving average of $44.91 and a two-hundred day simple moving average of $45.39. The company has a market cap of $54.43 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $36.10 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Newmont Company 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.