Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Newmont Corporation $NEM

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Newmont Corporation (NYSE:NEM) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,017,800 shares of the basic materials company’s stock after acquiring an additional 40,892 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Newmont worth $101,627,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Krilogy Financial LLC raised its holdings in Newmont by 37.5% in the 4th quarter. Krilogy Financial LLC now owns 21,368 shares of the basic materials company’s stock worth $2,134,000 after purchasing an additional 5,827 shares during the period. Earned Wealth Advisors LLC raised its stake in Newmont by 31.0% during the 4th quarter. Earned Wealth Advisors LLC now owns 8,713 shares of the basic materials company’s stock valued at $870,000 after purchasing an additional 2,061 shares during the period. First Horizon Corp increased its holdings in Newmont by 4.9% in the 4th quarter. First Horizon Corp now owns 26,295 shares of the basic materials company’s stock valued at $2,626,000 after acquiring an additional 1,222 shares during the last quarter. Greatmark Investment Partners Inc. purchased a new stake in shares of Newmont in the fourth quarter worth about $230,000. Finally, Hobart Private Capital LLC purchased a new stake in shares of Newmont during the 4th quarter worth approximately $320,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Stifel Nicolaus boosted their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Bank of America boosted their price target on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Citigroup increased their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada increased their target price on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $133.91.

Insider Activity

In other Newmont news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the transaction, the executive vice president directly owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,394 shares of company stock worth $2,713,281 over the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NEM opened at $116.50 on Monday. The company’s fifty day moving average price is $115.51 and its 200-day moving average price is $103.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The firm has a market capitalization of $125.81 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 0.90 and a beta of 0.46. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same period last year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is currently 16.28%.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.