Ninety One UK Ltd Purchases 366,058 Shares of Newmont Co. (NYSE:NEM)

Ninety One UK Ltd grew its holdings in Newmont Co. (NYSE:NEM) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,872,726 shares of the basic materials company’s stock after buying an additional 366,058 shares during the period. Ninety One UK Ltd owned 0.49% of Newmont worth $160,292,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NEM. Parkside Financial Bank & Trust lifted its holdings in shares of Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 278 shares during the period. S.A. Mason LLC raised its position in shares of Newmont by 15.1% in the 3rd quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 285 shares in the last quarter. Grey Street Capital LLC lifted its stake in shares of Newmont by 0.4% in the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after purchasing an additional 289 shares during the period. Reitz Capital Advisors LLC boosted its position in shares of Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares in the last quarter. Finally, Antonetti Capital Management LLC grew its stake in Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 300 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM traded down $0.01 during midday trading on Thursday, reaching $38.55. 3,670,350 shares of the company traded hands, compared to its average volume of 13,532,399. The firm has a market capitalization of $44.44 billion, a price-to-earnings ratio of -16.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.50. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $34.59 and its two-hundred day moving average price is $36.80. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, equities analysts expect that Newmont Co. will post 2.02 earnings per share 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 dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Newmont’s dividend payout ratio (DPR) is currently -42.02%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Scotiabank decreased their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. TD Securities reduced their target price on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.97.

About Newmont

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.