Natixis Raises Holdings in Newmont Co. (NYSE:NEM)

Natixis grew its holdings in Newmont Co. (NYSE:NEM) by 5,552.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 281,959 shares of the basic materials company’s stock after buying an additional 276,971 shares during the quarter. Natixis’ holdings in Newmont were worth $10,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in Newmont in the 4th quarter worth approximately $26,000. Manchester Capital Management LLC lifted its holdings in Newmont by 171.9% in the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after buying an additional 397 shares during the period. CVA Family Office LLC purchased a new stake in Newmont in the 4th quarter worth approximately $34,000. Heritage Wealth Advisors lifted its holdings in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the period. Finally, Advantage Trust Co bought a new position in shares of Newmont in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NEM. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Citigroup decreased their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Bank of America increased their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at approximately $13,964,788.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 4.2 %

Shares of Newmont stock traded down $2.00 on Thursday, reaching $45.70. The company’s stock had a trading volume of 12,534,132 shares, compared to its average volume of 11,340,813. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of -17.12, a P/E/G ratio of 0.37 and a beta of 0.47. The firm’s fifty day simple moving average is $43.28 and its two-hundred day simple moving average is $38.68. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $48.97. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. Equities analysts anticipate that Newmont Co. will post 2.64 earnings per share for the current year.

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.