Illinois Municipal Retirement Fund Grows Stake in Newmont Co. (NYSE:NEM)

Illinois Municipal Retirement Fund increased its holdings in shares of Newmont Co. (NYSE:NEM) by 701.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,022 shares of the basic materials company’s stock after purchasing an additional 105,038 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Newmont were worth $4,968,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. AE Wealth Management LLC boosted its stake in Newmont by 2.5% during the third quarter. AE Wealth Management LLC now owns 30,989 shares of the basic materials company’s stock valued at $1,145,000 after buying an additional 767 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in Newmont by 81.8% during the third quarter. Meridian Wealth Management LLC now owns 18,084 shares of the basic materials company’s stock valued at $668,000 after buying an additional 8,139 shares during the last quarter. Czech National Bank boosted its stake in Newmont by 47.6% during the third quarter. Czech National Bank now owns 138,902 shares of the basic materials company’s stock valued at $5,132,000 after buying an additional 44,824 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Newmont by 1.6% during the third quarter. Asset Management One Co. Ltd. now owns 470,097 shares of the basic materials company’s stock valued at $17,370,000 after buying an additional 7,512 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Newmont by 4.1% during the third quarter. Handelsbanken Fonder AB now owns 215,555 shares of the basic materials company’s stock valued at $7,965,000 after buying an additional 8,444 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. TD Securities lowered their price objective on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada lowered 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 analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Hold” and a consensus target price of $50.89.

Newmont Trading Up 2.4 %

NEM opened at $38.60 on Thursday. The stock’s fifty day moving average is $35.14 and its two-hundred day moving average is $36.87. The company has a market capitalization of $44.50 billion, a P/E ratio of -16.22, a PEG ratio of 1.05 and a beta of 0.50. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Analysts forecast that Newmont Co. will post 1.97 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.59%. Newmont’s payout ratio is currently -42.02%.

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.