Newmont Co. (NYSE:NEM) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 68.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 385,889 shares of the basic materials company's stock after purchasing an additional 156,188 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Newmont were worth $15,972,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of Newmont by 27.5% during the fourth 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 acquiring an additional 36,645 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Newmont by 13.5% during the fourth 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. SG Americas Securities LLC raised its holdings in shares of Newmont by 1,770.8% during the fourth quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company's stock valued at $2,635,000 after acquiring an additional 60,261 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Newmont by 70.5% during the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company's stock valued at $3,535,000 after acquiring an additional 35,303 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on NEM shares. Jefferies Financial Group started coverage on Newmont in a report on Thursday, February 29th. They set a "buy" rating and a $38.00 target price for the company. Royal Bank of Canada cut their price target on Newmont from $45.00 to $40.00 and set a "sector perform" rating for the company in a report on Thursday, February 8th. Citigroup cut their price target on Newmont from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, April 4th. StockNews.com cut Newmont from a "hold" rating to a "sell" rating in a report on Monday, February 26th. Finally, Argus cut Newmont from a "buy" rating to a "hold" rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $51.97.

Newmont Trading Down 0.5 %

Newmont stock traded down $0.20 during mid-day trading on Monday, hitting $38.44. The company's stock had a trading volume of 11,437,481 shares, compared to its average volume of 13,732,400. The firm has a market capitalization of $44.31 billion, a PE ratio of -16.24, a price-to-earnings-growth ratio of 1.06 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock's fifty day moving average is $34.30 and its two-hundred day moving average is $36.77.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results 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). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.44 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company's quarterly revenue was up 23.7% on a year-over-year basis. On average, analysts anticipate that Newmont Co. will post 1.97 EPS for the current year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. Newmont's dividend payout ratio is currently -42.02%.

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.