Signaturefd LLC Buys 16,077 Shares of Newmont Co. (NYSE:NEM)

Signaturefd LLC grew its stake in Newmont Co. (NYSE:NEM) by 158.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,217 shares of the basic materials company’s stock after acquiring an additional 16,077 shares during the quarter. Signaturefd LLC’s holdings in Newmont were worth $1,085,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NEM. Vanguard Group Inc. grew its position in Newmont by 17.6% during 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 purchasing an additional 12,360,775 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Newmont by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock worth $628,278,000 after acquiring an additional 483,377 shares during the last quarter. Northern Trust Corp lifted its position in Newmont by 5.7% in the 3rd quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after acquiring an additional 554,513 shares in the last quarter. Invesco Ltd. boosted its stake in Newmont by 5.8% during the 3rd quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock valued at $289,232,000 after purchasing an additional 428,537 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Newmont by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company’s stock worth $239,205,000 after purchasing an additional 34,651 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NEM opened at $37.48 on Tuesday. The firm has a 50-day simple moving average of $34.90 and a two-hundred day simple moving average of $36.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18.

Newmont (NYSE:NEM) last announced its quarterly earnings results 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 firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. Newmont’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Equities analysts predict that Newmont Co. will post 1.98 EPS for the current year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

Analysts Set New Price Targets

NEM has been the topic of several research analyst reports. BMO Capital Markets lowered their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Scotiabank reduced their price objective 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. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Finally, Royal Bank of Canada cut their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.89.

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.