Newmont Co. (NYSE:NEM) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI raised its stake in Newmont Co. (NYSE:NEM - Free Report) by 36.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,356,986 shares of the basic materials company's stock after purchasing an additional 633,343 shares during the quarter. National Bank of Canada FI owned 0.30% of Newmont worth $96,416,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mizuho Securities Co. Ltd. acquired a new position in Newmont in the 3rd quarter valued at $26,000. Life Planning Partners Inc acquired a new position in shares of Newmont during the fourth quarter worth about $26,000. OFI Invest Asset Management purchased a new position in Newmont during the third quarter worth about $30,000. CVA Family Office LLC acquired a new position in Newmont during the 4th quarter worth approximately $34,000. Finally, Operose Advisors LLC raised its stake in shares of Newmont by 156.8% during the 3rd quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company's stock worth $38,000 after buying an additional 635 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Newmont stock traded down $0.39 during mid-day trading on Friday, hitting $40.66. 7,306,324 shares of the company were exchanged, compared to its average volume of 14,411,746. 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 12-month low of $29.42 and a 12-month high of $50.18. The business's 50 day simple moving average is $36.40 and its two-hundred day simple moving average is $36.97. The company has a market capitalization of $46.89 billion, a P/E ratio of -15.23, a PEG ratio of 0.96 and a beta of 0.48.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm's quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Analysts forecast that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Tuesday, June 4th. Newmont's payout ratio is -37.45%.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on Newmont from $56.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday. Scotiabank reduced their price objective on shares of Newmont from $50.00 to $43.50 and set a "sector perform" rating for the company in a research note 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, April 30th. TD Securities increased their target price 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, Jefferies Financial Group started coverage on Newmont in a research note on Thursday, February 29th. They set a "buy" rating and a $38.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.