New York Life Investment Management LLC Increases Stake in Newmont Co. (NYSE:NEM)

New York Life Investment Management LLC grew its holdings in Newmont Co. (NYSE:NEM - Free Report) by 30.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,960 shares of the basic materials company's stock after purchasing an additional 40,935 shares during the period. New York Life Investment Management LLC's holdings in Newmont were worth $7,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. State of Alaska Department of Revenue increased its holdings in 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 worth $7,041,000 after buying an additional 36,645 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Newmont by 22.3% during the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company's stock worth $5,382,000 after buying an additional 26,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 worth $32,926,000 after buying an additional 94,692 shares during the last quarter. KLCM Advisors Inc. increased its holdings in Newmont by 4.3% during the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company's stock worth $17,708,000 after buying an additional 17,791 shares during 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 valued at $3,535,000 after purchasing an additional 35,303 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 1.0 %

Shares of Newmont stock traded down $0.39 during midday trading on Friday, reaching $40.66. The company had a trading volume of 7,304,762 shares, compared to its average volume of 13,628,658. The firm has a market cap of $46.88 billion, a PE ratio of -15.23, a P/E/G ratio of 1.04 and a beta of 0.48. The stock has a fifty day moving average price of $36.21 and a 200 day moving average price of $37.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The company's revenue for the quarter was up 50.2% on a year-over-year basis. On average, equities analysts anticipate that Newmont Co. will post 2.16 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.46%. Newmont's dividend payout ratio is currently -37.45%.

Analysts Set New Price Targets

Several equities analysts have commented on NEM shares. Royal Bank of Canada decreased their price objective on shares of Newmont from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, February 8th. Scotiabank decreased their price objective on shares of Newmont from $50.00 to $43.50 and set a "sector perform" rating on the stock in a report on Wednesday, February 28th. National Bank Financial downgraded shares of Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a report on Tuesday. TD Securities upped their price objective on shares of Newmont from $43.00 to $48.00 and gave the company a "hold" rating in a report on Friday, April 26th. Finally, Citigroup decreased their price objective on shares of Newmont from $60.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.35.

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.