Bailard Inc. Invests $611,000 in Newmont Co. (NYSE:NEM)

Bailard Inc. bought a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,755 shares of the basic materials company’s stock, valued at approximately $611,000.

A number of other institutional investors also recently modified their holdings of NEM. TFC Financial Management Inc. raised its position in shares of Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 499 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Newmont during the third quarter worth approximately $26,000. Life Planning Partners Inc acquired a new position in shares of Newmont during the fourth quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in shares of Newmont during the third quarter worth approximately $30,000. Finally, CVA Family Office LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $34,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 1.6 %

Shares of NYSE:NEM opened at $42.73 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.98 and a current ratio of 2.15. The business has a fifty day moving average price of $35.54 and a two-hundred day moving average price of $36.94. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. Sell-side analysts anticipate that Newmont Co. will post 2.16 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. Newmont’s payout ratio is -37.45%.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. BMO Capital Markets lowered their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Royal Bank of Canada decreased their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. TD Securities upped their price target on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. Finally, Scotiabank decreased their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.