Sumitomo Mitsui Trust Holdings Inc. Buys 868,804 Shares of Newmont Co. (NYSE:NEM)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 36.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,272,175 shares of the basic materials company's stock after purchasing an additional 868,804 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.41% of Newmont worth $135,435,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its position in Newmont by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 278 shares during the last quarter. S.A. Mason LLC lifted its position in Newmont by 15.1% in the 3rd quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company's stock valued at $80,000 after purchasing an additional 285 shares during the last quarter. Grey Street Capital LLC lifted its position in 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 last quarter. Reitz Capital Advisors LLC lifted its position in Newmont by 1.1% in 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 during the last quarter. Finally, Antonetti Capital Management LLC lifted its position in Newmont by 30.0% in the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 300 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research analyst reports. StockNews.com cut shares of Newmont from a "hold" rating to a "sell" rating in a research note on Monday, February 26th. Argus cut shares of Newmont from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Jefferies Financial Group initiated coverage on shares of Newmont in a research note on Thursday, February 29th. They set a "buy" rating and a $38.00 target price on the stock. TD Securities lowered their target price on shares of Newmont from $40.00 to $36.00 and set a "hold" rating on the stock in a research note on Friday, February 23rd. Finally, Citigroup lowered their target price on shares of Newmont from $60.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $51.97.

Newmont Trading Down 0.8 %

Shares of NEM traded down $0.32 during midday trading on Tuesday, hitting $38.12. The stock had a trading volume of 11,830,354 shares, compared to its average volume of 13,703,785. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18. The business has a 50-day simple moving average of $34.41 and a two-hundred day simple moving average of $36.78. The firm has a market cap of $43.94 billion, a P/E ratio of -15.99, a price-to-earnings-growth ratio of 1.06 and a beta of 0.50. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results 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 business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. Newmont's revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, equities analysts forecast that Newmont Co. will post 1.97 EPS for the current year.

Newmont Cuts Dividend

The business also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Monday, March 4th. Newmont's dividend payout ratio (DPR) is currently -42.02%.

Newmont Company 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.