TD Waterhouse Canada Inc. Grows Position in Newmont Corporation $NEM

TD Waterhouse Canada Inc. increased its holdings in Newmont Corporation (NYSE:NEM) by 18.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 647,680 shares of the basic materials company’s stock after buying an additional 99,085 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Newmont were worth $54,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NEM. Concord Wealth Partners grew its stake in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC boosted its holdings in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC grew its position in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares during the period. Caldwell Trust Co purchased a new stake in Newmont during the 2nd quarter valued at $31,000. Finally, Country Trust Bank purchased a new stake in Newmont during the 2nd quarter valued at $32,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $132.01 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock has a 50-day simple moving average of $103.05 and a two-hundred day simple moving average of $86.22. The firm has a market capitalization of $144.05 billion, a PE ratio of 20.50, a P/E/G ratio of 0.97 and a beta of 0.41. Newmont Corporation has a 52-week low of $40.99 and a 52-week high of $132.40.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NEM shares. The Goldman Sachs Group raised their price target on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. Scotiabank increased their target price on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a report on Monday. CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. Canaccord Genuity Group upped their price target on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, National Bankshares increased their price objective on shares of Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Six analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $105.88.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.