Angeles Investment Advisors LLC Boosts Holdings in Newmont Co. (NYSE:NEM)

Angeles Investment Advisors LLC raised its holdings in Newmont Co. (NYSE:NEMFree Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,760 shares of the basic materials company’s stock after purchasing an additional 808 shares during the period. Angeles Investment Advisors LLC’s holdings in Newmont were worth $528,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 worth $3,051,291,000 after acquiring an additional 12,360,775 shares during the period. Van ECK Associates Corp grew its stake in Newmont by 57.2% in 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Newmont by 44.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock worth $1,019,813,000 after buying an additional 7,635,657 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Newmont by 29.9% in 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 buying an additional 5,475,155 shares in the last quarter. Finally, Norges Bank purchased a new position in Newmont in the 4th quarter worth approximately $604,516,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 5.0 %

Newmont stock traded down $2.14 during trading hours on Friday, hitting $40.36. 9,071,876 shares of the stock traded hands, compared to its average volume of 12,456,155. Newmont Co. has a one year low of $29.42 and a one year high of $45.92. The company has a market cap of $46.54 billion, a PE ratio of -15.92, a PEG ratio of 0.34 and a beta of 0.52. The firm’s 50-day moving average price is $40.64 and its two-hundred day moving average price is $37.84. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEMGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 analysts’ expectations of $3.66 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, research analysts forecast that Newmont Co. will post 2.37 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors 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 yield of 2.48%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEM shares. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Scotiabank upped their price objective on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Jefferies Financial Group started coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. Royal Bank of Canada cut their price objective 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. Finally, StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.36.

Read Our Latest Analysis on Newmont

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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