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

Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Newmont Corporation (NYSE:NEM) by 1,074.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,411,264 shares of the basic materials company’s stock after buying an additional 2,206,017 shares during the quarter. 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.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Newmont by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock worth $773,159,000 after purchasing an additional 1,306,783 shares during the last quarter. Northern Trust Corp boosted its stake in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares during the last quarter. Invesco Ltd. raised its position in shares of Newmont by 2.2% in the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock valued at $518,936,000 after purchasing an additional 228,116 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Newmont by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company’s stock valued at $350,166,000 after purchasing an additional 1,331,278 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Newmont by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock valued at $423,572,000 after purchasing an additional 1,201,237 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Raymond James Financial boosted their price target on shares of Newmont from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Royal Bank Of Canada upped their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. CIBC set a $74.00 target price on shares of Newmont and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Scotiabank upped their target price on shares of Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Finally, National Bankshares raised shares of Newmont from a “sector perform” rating to an “outperform” rating in a report on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.58.

Newmont Price Performance

Shares of NYSE:NEM opened at $70.6610 on Monday. Newmont Corporation has a one year low of $36.86 and a one year high of $71.10. The firm has a market capitalization of $77.62 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.84 and a beta of 0.30. The company’s fifty day moving average price is $62.46 and its 200-day moving average price is $54.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Insider Buying and Selling

In other news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the transaction, the director directly owned 41,026 shares of the company’s stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,246 shares of company stock valued at $1,373,251 over the last ninety days. 0.05% of the stock is owned by 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.