Metis Global Partners LLC Acquires 25,464 Shares of Newmont Co. (NYSE:NEM)

Metis Global Partners LLC boosted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 43.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,412 shares of the basic materials company's stock after buying an additional 25,464 shares during the quarter. Metis Global Partners LLC's holdings in Newmont were worth $3,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Newmont by 57.2% during the fourth quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company's stock worth $2,122,913,000 after purchasing an additional 18,664,614 shares during the last quarter. Vanguard Group Inc. raised its holdings in Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company's stock worth $3,051,291,000 after purchasing an additional 12,360,775 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Newmont by 61.1% during the third quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company's stock worth $196,706,000 after purchasing an additional 2,019,591 shares during the last quarter. Swiss National Bank raised its holdings in shares of Newmont by 41.0% in the fourth quarter. Swiss National Bank now owns 3,603,805 shares of the basic materials company's stock worth $149,161,000 after acquiring an additional 1,047,645 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Newmont by 36.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company's stock worth $135,435,000 after acquiring an additional 868,804 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 1.8 %

NEM stock traded up $0.74 during trading on Monday, reaching $41.40. 7,714,917 shares of the stock traded hands, compared to its average volume of 13,560,684. The business's 50 day moving average price is $36.62 and its 200-day moving average price is $36.99. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $49.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The firm has a market capitalization of $47.74 billion, a PE ratio of -15.51, a P/E/G ratio of 0.96 and a beta of 0.48.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont's payout ratio is -37.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NEM shares. Scotiabank cut their price target on Newmont from $50.00 to $43.50 and set a "sector perform" rating for the company in a report on Wednesday, February 28th. Jefferies Financial Group started coverage on Newmont in a report on Thursday, February 29th. They issued a "buy" rating and a $38.00 price target for the company. Citigroup cut their price target on Newmont from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, April 4th. National Bank Financial cut Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a "sector perform" rating for the company in a research report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus 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.