Sentry Investment Management LLC Increases Stake in Newmont Co. (NYSE:NEM)

Sentry Investment Management LLC increased its position in Newmont Co. (NYSE:NEM) by 28.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,951 shares of the basic materials company’s stock after acquiring an additional 1,319 shares during the quarter. Sentry Investment Management LLC’s holdings in Newmont were worth $246,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Blair William & Co. IL boosted its position in shares of Newmont by 14.8% during the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock valued at $3,378,000 after acquiring an additional 5,484 shares during the last quarter. Sei Investments Co. boosted its position in shares of Newmont by 19.3% during the 1st quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock valued at $5,219,000 after acquiring an additional 10,692 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Newmont by 46.9% during the 1st quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after acquiring an additional 8,915 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of Newmont by 7.2% during the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after acquiring an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Newmont by 25.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $38.12 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.18. The stock’s 50 day moving average price is $34.49 and its 200-day moving average price is $36.78.

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

Newmont Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Scotiabank decreased their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets decreased their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Citigroup decreased their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.97.

Newmont Company 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.