Lmcg Investments LLC Acquires 30,308 Shares of Newmont Co. (NYSE:NEM)

Lmcg Investments LLC lifted its holdings in Newmont Co. (NYSE:NEM - Free Report) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 304,009 shares of the basic materials company's stock after acquiring an additional 30,308 shares during the period. Lmcg Investments LLC's holdings in Newmont were worth $12,583,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Van ECK Associates Corp increased its stake in Newmont by 57.2% during the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company's stock worth $2,122,913,000 after acquiring an additional 18,664,614 shares during the period. Vanguard Group Inc. increased its position in shares of Newmont by 17.6% in 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 period. Charles Schwab Investment Management Inc. raised its stake in Newmont by 44.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company's stock valued at $1,019,813,000 after purchasing an additional 7,635,657 shares in the last quarter. Ameriprise Financial Inc. lifted its position 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 period. Finally, Swiss National Bank grew its stake in Newmont by 41.0% during the fourth quarter. Swiss National Bank now owns 3,603,805 shares of the basic materials company's stock worth $149,161,000 after buying an additional 1,047,645 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of several analyst reports. BMO Capital Markets dropped their target price on shares of Newmont from $56.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, February 8th. Scotiabank lowered 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 assumed coverage on Newmont in a research note on Thursday, February 29th. They issued a "buy" rating and a $38.00 price objective on the stock. Finally, Citigroup lowered their target price on Newmont from $60.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, April 4th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.35.

Newmont Trading Up 1.5 %

NYSE NEM traded up $0.62 on Wednesday, hitting $43.20. The company's stock had a trading volume of 7,707,186 shares, compared to its average volume of 13,127,278. The company's 50-day moving average is $37.89 and its 200 day moving average is $37.16. The firm has a market cap of $49.81 billion, a PE ratio of -16.14, a PEG ratio of 0.98 and a beta of 0.48. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $46.75. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont's quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, analysts predict that Newmont Co. will post 2.4 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, June 4th. Newmont's dividend payout ratio is currently -37.45%.

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.

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