Azimuth Capital Investment Management LLC Purchases 500 Shares of Newmont Co. (NYSE:NEM)

Azimuth Capital Investment Management LLC raised its position in Newmont Co. (NYSE:NEM) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,200 shares of the basic materials company’s stock after purchasing an additional 500 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Newmont were worth $305,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NEM. Orion Portfolio Solutions LLC increased its stake in Newmont by 58.6% in the third quarter. Orion Portfolio Solutions LLC now owns 14,851 shares of the basic materials company’s stock valued at $794,000 after purchasing an additional 5,489 shares in the last quarter. MML Investors Services LLC increased its position in shares of Newmont by 5.8% during the third quarter. MML Investors Services LLC now owns 104,301 shares of the basic materials company’s stock worth $5,575,000 after acquiring an additional 5,695 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Newmont by 6.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 344,328 shares of the basic materials company’s stock worth $18,404,000 after acquiring an additional 19,366 shares in the last quarter. Vestcor Inc increased its position in shares of Newmont by 11.3% during the third quarter. Vestcor Inc now owns 23,136 shares of the basic materials company’s stock worth $1,237,000 after acquiring an additional 2,340 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Newmont by 1.4% during the third 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 in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $48.77 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $36.60 and a 12 month high of $58.72. The firm has a market cap of $54.97 billion, a P/E ratio of 16.64, a P/E/G ratio of 0.41 and a beta of 0.54. The company’s 50-day moving average price is $45.78 and its two-hundred day moving average price is $45.08.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 in the last quarter. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. National Bank Financial raised shares of Newmont to a “hold” rating in a research report on Friday, March 21st. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. TD Securities lowered their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Raymond James raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.09.

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.