Paradigm Asset Management Co. LLC Decreases Holdings in Newmont Co. (NYSE:NEM)

Paradigm Asset Management Co. LLC reduced its position in Newmont Co. (NYSE:NEMFree Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,700 shares of the basic materials company’s stock after selling 400 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Newmont were worth $567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Newmont by 57.2% during the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock worth $2,122,913,000 after buying an additional 18,664,614 shares during the last quarter. Norges Bank acquired a new position in Newmont during the fourth quarter worth about $604,516,000. Vanguard Group Inc. lifted its holdings in shares of Newmont by 17.6% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Newmont by 44.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock valued at $1,019,813,000 after purchasing an additional 7,635,657 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Newmont by 29.9% during the 4th quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock worth $983,267,000 after purchasing an additional 5,475,155 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Up 0.6 %

NEM stock traded up $0.24 during trading on Tuesday, reaching $42.22. 2,735,819 shares of the stock traded hands, compared to its average volume of 12,694,130. The firm has a market capitalization of $48.69 billion, a PE ratio of -15.72, a P/E/G ratio of 0.35 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The business’s 50 day moving average price is $39.46 and its 200-day moving average price is $37.53. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $45.92.

Newmont (NYSE:NEMGet Free Report) last issued its 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. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Co. will post 2.37 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is presently -37.45%.

Analyst Ratings Changes

A number of brokerages have commented on NEM. TD Securities increased their target price on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Royal Bank of Canada cut their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Sanford C. Bernstein lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group began coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.36.

View Our Latest Stock Report on Newmont

About Newmont

(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.

Read More

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.