Newmont Co. (NYSE:NEM) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 11.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 205,703 shares of the basic materials company's stock after selling 25,455 shares during the quarter. Foundry Partners LLC's holdings in Newmont were worth $8,514,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NEM. Vanguard Group Inc. boosted its position 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. Norges Bank acquired a new position in Newmont during the 4th quarter worth $332,897,000. Caisse DE Depot ET Placement DU Quebec boosted its position in Newmont by 103.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company's stock worth $356,749,000 after acquiring an additional 2,281,418 shares during the period. Ameriprise Financial Inc. boosted its position in Newmont by 61.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company's stock worth $196,706,000 after acquiring an additional 2,019,591 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Newmont by 66.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,817,295 shares of the basic materials company's stock worth $236,145,000 after acquiring an additional 1,919,693 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NEM. Royal Bank of Canada dropped their price objective on Newmont from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 8th. BMO Capital Markets dropped their price objective on Newmont from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, February 15th. Scotiabank dropped their price objective on Newmont from $50.00 to $43.50 and set a "sector perform" rating on the stock in a research note on Wednesday, February 28th. National Bank Financial reissued an "outperform overweight" rating on shares of Newmont in a research note on Monday, April 8th. Finally, Argus downgraded Newmont from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. One 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $51.97.

Newmont Stock Up 1.2 %

NYSE:NEM traded up $0.47 during trading hours on Friday, hitting $39.02. 10,439,077 shares of the company's stock traded hands, compared to its average volume of 12,734,723. The firm has a market cap of $44.98 billion, a P/E ratio of -16.39, a P/E/G ratio of 1.03 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The stock's fifty day moving average price is $34.82 and its two-hundred day moving average price is $36.85.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $3.96 billion for 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%. The firm's quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, research analysts expect that Newmont Co. will post 1.98 earnings per share for the current fiscal 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. This represents a $1.00 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Monday, March 4th. Newmont's payout ratio is -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.

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