Citizens Financial Group Inc. RI Raises Stake in Newmont Co. (NYSE:NEM)

Citizens Financial Group Inc. RI lifted its position in Newmont Co. (NYSE:NEM) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,312 shares of the basic materials company’s stock after purchasing an additional 788 shares during the period. Citizens Financial Group Inc. RI’s holdings in Newmont were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in Newmont by 27.5% during the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after buying an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Newmont by 22.3% during the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after acquiring an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Newmont by 13.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after acquiring an additional 94,692 shares during the last quarter. KLCM Advisors Inc. lifted its stake in Newmont by 4.3% in the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock worth $17,708,000 after purchasing an additional 17,791 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Newmont by 70.5% during the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after purchasing an additional 35,303 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $42.73 on Monday. 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 stock’s 50 day moving average price is $35.54 and its 200-day moving average price is $36.93. Newmont Co. has a one year low of $29.42 and a one 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 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the company posted $0.40 EPS. Newmont’s quarterly revenue was up 50.2% on a year-over-year basis. On average, sell-side analysts forecast that Newmont Co. will post 2.16 earnings per share for the current year.

Newmont Dividend Announcement

The business 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. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is presently -37.45%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. 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. TD Securities upped their price objective on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Finally, BMO Capital Markets dropped their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $51.75.

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.