Caisse DE Depot ET Placement DU Quebec Has $116.42 Million Position in Newmont Corporation $NEM

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Newmont Corporation by 1,074.8% during the first quarter, owning 2,411,264 shares valued at approximately $116.42 million.
• Analysts have issued varied ratings for Newmont, with a consensus target price of $64.58 and an average rating of "Moderate Buy."
• Newmont recently announced a $0.25 quarterly dividend to be paid on September 29th, equating to a 1.4% dividend yield.

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 1,074.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,411,264 shares of the basic materials company's stock after purchasing an additional 2,206,017 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.22% of Newmont worth $116,416,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. lifted its stake in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Newmont during the first quarter valued at $26,000. Colonial Trust Advisors lifted its stake in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 429 shares during the period. Private Trust Co. NA lifted its stake in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 347 shares during the period. Finally, Nexus Investment Management ULC acquired a new position in shares of Newmont during the first quarter valued at $31,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president directly owned 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the sale, the director directly owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,246 shares of company stock worth $1,373,251 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NEM shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. UBS Group upped their price target on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Stifel Nicolaus began coverage on Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 target price on the stock. Finally, Raymond James Financial increased their target price on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Newmont Stock Up 0.8%

Shares of NYSE:NEM traded up $0.61 during mid-day trading on Thursday, reaching $73.00. 6,794,550 shares of the stock were exchanged, compared to its average volume of 8,557,717. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The stock's 50 day simple moving average is $63.29 and its 200-day simple moving average is $54.58. The company has a market cap of $80.18 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.86 and a beta of 0.30. Newmont Corporation has a one year low of $36.86 and a one year high of $73.29.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Newmont Company 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.