1,000 Shares in Newmont Co. (NYSE:NEM) Purchased by Advantage Trust Co

Advantage Trust Co purchased a new stake in Newmont Co. (NYSE:NEM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,000 shares of the basic materials company’s stock, valued at approximately $41,000.

Several other hedge funds have also recently bought and sold shares of the stock. National Pension Service lifted its holdings in shares of Newmont by 2.7% during the 4th quarter. National Pension Service now owns 1,598,069 shares of the basic materials company’s stock worth $66,144,000 after acquiring an additional 41,498 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Newmont by 54.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 77,721 shares of the basic materials company’s stock worth $3,217,000 after purchasing an additional 27,310 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Newmont by 44.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock valued at $1,019,813,000 after purchasing an additional 7,635,657 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Newmont by 47.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 89,784 shares of the basic materials company’s stock valued at $3,716,000 after purchasing an additional 29,017 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Newmont by 52.7% during the 4th quarter. Private Advisor Group LLC now owns 85,352 shares of the basic materials company’s stock worth $3,533,000 after buying an additional 29,448 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 3.1 %

NYSE NEM traded up $1.30 during trading on Thursday, reaching $42.84. The company’s stock had a trading volume of 9,886,387 shares, compared to its average volume of 13,389,009. The stock has a market capitalization of $49.39 billion, a PE ratio of -16.04, a PEG ratio of 0.96 and a beta of 0.48. The business has a 50-day moving average price of $37.09 and a 200-day moving average price of $37.04. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $48.41.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. On average, research analysts forecast that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. Newmont’s dividend payout ratio is currently -37.45%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research reports. Argus cut Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Scotiabank reduced their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Citigroup decreased their price target on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.35.

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.