Significant Wealth Partners LLC Purchases Shares of 28,098 Newmont Co. (NYSE:NEM)

Significant Wealth Partners LLC bought a new stake in Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,098 shares of the basic materials company's stock, valued at approximately $1,163,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in Newmont by 27.5% in 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 buying an additional 36,645 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company's stock worth $5,382,000 after acquiring an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Newmont by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company's stock worth $32,926,000 after acquiring an additional 94,692 shares in the last quarter. KLCM Advisors Inc. increased its holdings in shares of Newmont by 4.3% in the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company's stock worth $17,708,000 after acquiring an additional 17,791 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Newmont by 70.5% in the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company's stock worth $3,535,000 after acquiring an additional 35,303 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NYSE NEM traded down $1.54 during midday trading on Monday, hitting $37.48. 14,143,470 shares of the company's stock were exchanged, compared to its average volume of 13,535,698. 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 has a market capitalization of $43.21 billion, a PE ratio of -15.75, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The company's 50 day moving average price is $34.90 and its 200 day moving average price is $36.86.

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). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business's quarterly revenue was up 23.7% compared to the same quarter last year. As a group, analysts predict that Newmont Co. will post 1.98 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, March 4th. Newmont's payout ratio is -42.02%.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. StockNews.com downgraded Newmont from a "hold" rating to a "sell" rating in a report on Monday, February 26th. BMO Capital Markets decreased their price objective on Newmont from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, February 15th. Citigroup decreased their price objective on Newmont from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, April 4th. Scotiabank decreased their price objective on Newmont from $50.00 to $43.50 and set a "sector perform" rating for the company in a report on Wednesday, February 28th. Finally, Jefferies Financial Group assumed coverage on Newmont in a report on Thursday, February 29th. They set a "buy" rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $50.89.

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.