Mackenzie Financial Corp Has $54.32 Million Position in Newmont Co. (NYSE:NEM)

Mackenzie Financial Corp grew its stake in shares of Newmont Co. (NYSE:NEM) by 32.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,312,494 shares of the basic materials company’s stock after buying an additional 324,382 shares during the period. Mackenzie Financial Corp’s holdings in Newmont were worth $54,324,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Parkside Financial Bank & Trust raised its position in shares of Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after buying an additional 278 shares during the last quarter. S.A. Mason LLC raised its position in Newmont by 15.1% in the third quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock worth $80,000 after purchasing an additional 285 shares in the last quarter. Grey Street Capital LLC raised its position in Newmont by 0.4% in the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after purchasing an additional 289 shares in the last quarter. Reitz Capital Advisors LLC raised its position in Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after purchasing an additional 298 shares in the last quarter. Finally, Antonetti Capital Management LLC raised its position in Newmont by 30.0% in the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $38.12 on Wednesday. The firm’s fifty day moving average is $34.49 and its two-hundred day moving average is $36.78. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. Equities research analysts forecast that Newmont Co. will post 2.02 earnings per share for the current year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. Newmont’s payout ratio is -42.02%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEM. Scotiabank dropped their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada dropped their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. BMO Capital Markets decreased their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. TD Securities decreased their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Finally, Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Newmont currently has an average rating of “Hold” and an average target price of $51.97.

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.