Colrain Capital LLC Takes Position in Newmont Co. (NYSE:NEM)

Colrain Capital LLC bought a new position in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 102,750 shares of the basic materials company’s stock, valued at approximately $3,824,000. Newmont accounts for approximately 3.7% of Colrain Capital LLC’s holdings, making the stock its 11th biggest position.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Newmont during the 4th quarter valued at about $626,074,000. Zurich Insurance Group Ltd FI bought a new position in shares of Newmont in the third quarter valued at about $98,011,000. Allianz SE bought a new stake in Newmont during the 4th quarter worth about $65,385,000. Nordea Investment Management AB increased its position in 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 acquiring an additional 1,578,545 shares in the last quarter. Finally, Amundi raised its stake in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’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 $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.05% of the company’s stock.

Newmont Stock Down 0.7 %

Shares of NEM stock opened at $48.06 on Monday. The firm has a fifty day moving average of $44.78 and a 200-day moving average of $45.42. Newmont Co. has a 12-month low of $36.10 and a 12-month high of $58.72. The company has a market capitalization of $54.17 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54. 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 (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. As a group, equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.08%. Newmont’s payout ratio is presently 34.13%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NEM shares. The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. Finally, TD Securities cut their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

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.