Twin Capital Management Inc. Sells 309 Shares of Newmont Co. (NYSE:NEM)

Twin Capital Management Inc. lessened its holdings in Newmont Co. (NYSE:NEM) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,905 shares of the basic materials company’s stock after selling 309 shares during the quarter. Twin Capital Management Inc.’s holdings in Newmont were worth $410,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NEM. Vanguard Group Inc. raised its holdings in Newmont by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after buying an additional 12,360,775 shares during the last quarter. Norges Bank acquired a new stake in Newmont during the 4th quarter valued at approximately $332,897,000. Caisse DE Depot ET Placement DU Quebec increased its position in Newmont by 103.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock valued at $356,749,000 after purchasing an additional 2,281,418 shares during the period. Ameriprise Financial Inc. increased its position in Newmont by 61.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock valued at $196,706,000 after purchasing an additional 2,019,591 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Newmont by 66.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,817,295 shares of the basic materials company’s stock valued at $236,145,000 after purchasing an additional 1,919,693 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $39.03 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $34.82 and its two-hundred day simple moving average is $36.83. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18. The stock has a market cap of $44.99 billion, a PE ratio of -16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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 company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the business posted $0.44 earnings per share. Newmont’s revenue was up 23.7% on a year-over-year basis. As a group, analysts forecast that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Scotiabank decreased their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. TD Securities reduced their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Citigroup reduced their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, StockNews.com downgraded shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One 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. According to data from MarketBeat.com, the stock presently 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.