Xponance Inc. Grows Position in Newmont Co. (NYSE:NEM)

Xponance Inc. boosted its stake in shares of Newmont Co. (NYSE:NEM) by 29.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 213,221 shares of the basic materials company’s stock after purchasing an additional 47,966 shares during the period. Xponance Inc.’s holdings in Newmont were worth $8,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NEM. Vanguard Group Inc. raised its holdings in Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after acquiring an additional 12,360,775 shares during the period. Norges Bank bought a new stake in shares of Newmont in the fourth quarter worth about $332,897,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Newmont by 103.3% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock worth $356,749,000 after purchasing an additional 2,281,418 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Newmont by 61.1% in the third quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock worth $196,706,000 after purchasing an additional 2,019,591 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Newmont by 66.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,817,295 shares of the basic materials company’s stock worth $236,145,000 after purchasing an additional 1,919,693 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. TD Securities reduced their target price on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Citigroup reduced their target price on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Finally, Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.97.

Newmont Stock Up 0.3 %

NYSE:NEM traded up $0.10 during trading hours on Friday, reaching $38.65. The company’s stock had a trading volume of 964,117 shares, compared to its average volume of 13,402,647. The company has a market capitalization of $44.56 billion, a P/E ratio of -16.20, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a 50 day moving average price of $34.70 and a two-hundred day moving average price of $36.81.

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). The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Equities analysts predict that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is -42.02%.

Newmont 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.