Treasurer of the State of North Carolina Purchases 155,000 Shares of Newmont Co. (NYSE:NEM)

Treasurer of the State of North Carolina boosted its stake in shares of Newmont Co. (NYSE:NEMFree Report) by 28.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 697,140 shares of the basic materials company’s stock after acquiring an additional 155,000 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Newmont were worth $28,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Grey Street Capital LLC boosted its holdings in Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after acquiring an additional 289 shares during the period. Reitz Capital Advisors LLC lifted its holdings in Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after buying an additional 298 shares during the period. Antonetti Capital Management LLC lifted its holdings in Newmont by 30.0% in the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after buying an additional 300 shares during the period. Sigma Planning Corp lifted its holdings in Newmont by 4.6% in the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after buying an additional 309 shares during the period. Finally, Berkeley Capital Partners LLC lifted its stake in shares of Newmont by 5.6% in the 4th quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 318 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Securities raised their target price on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein reduced their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. Finally, BMO Capital Markets reduced their price objective on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.36.

Read Our Latest Report on NEM

Newmont Stock Down 1.8 %

Shares of Newmont stock traded down $0.76 on Wednesday, reaching $41.64. The company’s stock had a trading volume of 7,232,109 shares, compared to its average volume of 12,688,128. The company has a market capitalization of $48.02 billion, a price-to-earnings ratio of -15.88, a P/E/G ratio of 0.35 and a beta of 0.48. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $39.64 and its two-hundred day simple moving average is $37.58.

Newmont (NYSE:NEMGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion for 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 company’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Equities analysts anticipate that Newmont Co. will post 2.37 earnings per share 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 $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

Newmont Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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