Allstate Corp Makes New Investment in Newmont Co. (NYSE:NEM)

Allstate Corp purchased a new stake in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 33,851 shares of the basic materials company’s stock, valued at approximately $1,260,000.

Several other large investors have also made changes to their positions in the company. Confluence Investment Management LLC grew its position in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after acquiring an additional 281 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 292 shares in the last quarter. Intact Investment Management Inc. increased its position in Newmont by 21.4% during the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after buying an additional 300 shares during the last quarter. Fiduciary Financial Group LLC raised its holdings in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock valued at $338,000 after buying an additional 303 shares in the last quarter. Finally, Conning Inc. lifted its position in shares of Newmont by 6.0% in the fourth quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock worth $203,000 after buying an additional 311 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, 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 value of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by company insiders.

Newmont Price Performance

NYSE:NEM opened at $48.06 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a 50-day moving average of $44.78 and a 200-day moving average of $45.42. Newmont Co. has a 52 week low of $36.10 and a 52 week high of $58.72. The company has a market capitalization of $54.17 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid 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 dividend payout ratio is currently 34.13%.

Analyst Ratings Changes

A number of brokerages have recently commented on NEM. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Royal Bank of Canada boosted their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Finally, TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. One equities research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.