578,700 Shares in Newmont Co. (NYSE:NEM) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 578,700 shares of the basic materials company’s stock, valued at approximately $21,519,000. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Newmont at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI purchased a new stake in shares of Newmont during the third quarter valued at about $98,011,000. Nordea Investment Management AB boosted its holdings in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Amundi boosted its holdings in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after buying an additional 1,507,708 shares in the last quarter. FMR LLC boosted its holdings in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares in the last quarter. Finally, Ruffer LLP boosted its holdings in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after buying an additional 1,164,870 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NEM. Raymond James lowered their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Performance

NEM opened at $45.63 on Friday. Newmont Co. has a 12-month low of $33.29 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. The firm has a market capitalization of $51.42 billion, a PE ratio of 15.57, a P/E/G ratio of 0.41 and a beta of 0.54. The firm has a 50 day moving average of $43.03 and a two-hundred day moving average of $45.85.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is 34.13%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred 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 directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade 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 valued at $1,388,758 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.