Federated Hermes Inc. Has $69.68 Million Stock Position in Newmont Co. (NYSE:NEM)

Federated Hermes Inc. lessened its stake in Newmont Co. (NYSE:NEM) by 19.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,683,406 shares of the basic materials company’s stock after selling 404,682 shares during the quarter. Federated Hermes Inc.’s holdings in Newmont were worth $69,676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Newmont by 162.6% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,214 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 1,371 shares during the period. Daiwa Securities Group Inc. increased its position in Newmont by 55.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 131,382 shares of the basic materials company’s stock worth $5,438,000 after buying an additional 46,780 shares during the period. KLCM Advisors Inc. increased its stake in shares of Newmont by 4.3% in the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after purchasing an additional 17,791 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Newmont in the 4th quarter valued at about $740,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Newmont by 48.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 452,422 shares of the basic materials company’s stock worth $18,726,000 after acquiring an additional 148,131 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NYSE:NEM opened at $38.55 on Friday. The company has a 50-day moving average price of $34.70 and a two-hundred day moving average price of $36.81. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $44.44 billion, a PE ratio of -16.20, a P/E/G ratio of 1.02 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. Equities analysts forecast that Newmont Co. will post 2.01 EPS for the current year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

Analyst Ratings Changes

A number of brokerages have 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 on the stock in a research report on Wednesday, February 28th. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Royal Bank of Canada dropped their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Hold” and a consensus price target 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.