IHT Wealth Management LLC Has $1.22 Million Position in Newmont Co. (NYSE:NEM)

IHT Wealth Management LLC grew its stake in Newmont Co. (NYSE:NEM) by 88.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,859 shares of the basic materials company’s stock after buying an additional 15,439 shares during the period. IHT Wealth Management LLC’s holdings in Newmont were worth $1,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Norges Bank bought a new stake in Newmont in the fourth quarter valued at approximately $626,074,000. Capital Research Global Investors lifted its position in shares of Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after purchasing an additional 2,338,953 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Newmont in the 4th quarter valued at $76,281,000. Invesco Ltd. increased its position in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after buying an additional 2,028,150 shares during the period. Finally, Allianz SE bought a new position in Newmont during the fourth quarter worth $65,385,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NEM shares. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. Raymond James upped their target price on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Scotiabank restated a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $55.02.

Newmont Stock Performance

Shares of NEM opened at $53.10 on Thursday. The firm has a market capitalization of $59.86 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The stock has a 50 day moving average price of $47.58 and a two-hundred day moving average price of $45.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Newmont’s dividend payout ratio is currently 34.13%.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $386,010.00. Following the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

About Newmont

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.