KCM Investment Advisors LLC Increases Stock Position in Newmont Co. (NYSE:NEM)

KCM Investment Advisors LLC lifted its holdings in Newmont Co. (NYSE:NEM) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,747 shares of the basic materials company’s stock after buying an additional 623 shares during the quarter. KCM Investment Advisors LLC’s holdings in Newmont were worth $400,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Promus Capital LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC grew its stake in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares during the last quarter. Kestra Investment Management LLC bought a new position in Newmont during the 4th quarter valued at approximately $43,000. Finally, Assetmark Inc. raised its stake in Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after buying an additional 820 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 8.4 %

Shares of NEM stock opened at $44.25 on Monday. The company has a 50 day simple moving average of $45.34 and a two-hundred day simple moving average of $45.22. The stock has a market cap of $49.88 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 12 month low of $36.60 and a 12 month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James raised their price target on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada upped their price objective on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.09.

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.