AGF Management Ltd. Sells 24,644 Shares of Newmont Co. (NYSE:NEM)

AGF Management Ltd. cut its holdings in Newmont Co. (NYSE:NEM - Free Report) by 82.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,110 shares of the basic materials company's stock after selling 24,644 shares during the quarter. AGF Management Ltd.'s holdings in Newmont were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. 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. Van ECK Associates Corp raised its holdings in shares of Newmont by 57.2% in 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 acquiring an additional 18,664,614 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 worth $1,019,813,000 after acquiring an additional 7,635,657 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Newmont by 5.7% in the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company's stock worth $381,203,000 after acquiring an additional 554,513 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Newmont by 5.8% in the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company's stock worth $289,232,000 after acquiring an additional 428,537 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Up 2.1 %

NEM stock traded up $0.90 during trading on Friday, reaching $43.74. 10,165,097 shares of the stock traded hands, compared to its average volume of 13,039,941. The business's 50 day moving average price is $38.26 and its 200-day moving average price is $37.24. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $45.92. 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 $50.44 billion, a PE ratio of -16.34, a P/E/G ratio of 1.01 and a beta of 0.48.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. The company's revenue was up 50.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmont Co. will post 2.37 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 2.29%. 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 the company. National Bank Financial cut Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a report on Tuesday, April 30th. Jefferies Financial Group assumed coverage on Newmont in a report on Thursday, February 29th. They issued a "buy" rating and a $38.00 price target for the company. Sanford C. Bernstein cut their price target on Newmont from $46.00 to $45.00 and set a "market perform" rating for the company in a report on Thursday. Citigroup dropped 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. Finally, StockNews.com upgraded Newmont from a "sell" rating to a "hold" rating in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of "Hold" and a consensus price target of $48.11.

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.