National Pension Service Increases Holdings in Newmont Co. (NYSE:NEM)

National Pension Service grew its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,598,069 shares of the basic materials company's stock after buying an additional 41,498 shares during the period. National Pension Service owned approximately 0.20% of Newmont worth $66,144,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Newmont by 18.3% during the 3rd quarter. Raymond James & Associates now owns 530,565 shares of the basic materials company's stock worth $19,604,000 after purchasing an additional 82,115 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Newmont by 1.9% during the 3rd quarter. Brown Advisory Inc. now owns 75,132 shares of the basic materials company's stock worth $2,776,000 after purchasing an additional 1,417 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Newmont by 2.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 155,944 shares of the basic materials company's stock worth $5,762,000 after purchasing an additional 3,671 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Newmont by 19.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,825 shares of the basic materials company's stock worth $25,895,000 after purchasing an additional 115,615 shares in the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of Newmont by 22.5% during the 3rd quarter. Inspire Advisors LLC now owns 7,616 shares of the basic materials company's stock worth $281,000 after purchasing an additional 1,401 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEM. Scotiabank reduced their target price on Newmont from $50.00 to $43.50 and set a "sector perform" rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets reduced their price objective on Newmont from $56.00 to $54.00 and set an "outperform" rating on the stock in a research note on Thursday, May 2nd. TD Securities raised their price objective on Newmont from $43.00 to $48.00 and gave the company a "hold" rating in a research note on Friday, April 26th. National Bank Financial lowered Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a research note on Tuesday, April 30th. Finally, Argus downgraded Newmont from a "buy" rating to a "hold" rating in a research report on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $48.35.

Newmont Stock Up 3.1 %

Shares of NYSE:NEM traded up $1.30 during mid-day trading on Thursday, hitting $42.84. 9,886,387 shares of the company traded hands, compared to its average volume of 13,389,009. The stock has a market cap of $49.39 billion, a P/E ratio of -16.04, a P/E/G ratio of 0.96 and a beta of 0.48. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $48.41. The stock has a 50-day moving average price of $37.09 and a two-hundred day moving average price of $37.04.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.66 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Newmont's quarterly revenue was up 50.2% on a year-over-year basis. On average, equities research analysts forecast that Newmont Co. will post 2.32 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. Newmont's payout ratio is presently -37.45%.

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.