Newmont Co. (NYSE:NEM) Shares Acquired by ING Groep NV

ING Groep NV raised its stake in Newmont Co. (NYSE:NEM - Free Report) by 195.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 857,829 shares of the basic materials company's stock after purchasing an additional 567,080 shares during the period. ING Groep NV owned 0.11% of Newmont worth $35,506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Life Planning Partners Inc acquired a new stake in shares of Newmont in the 4th quarter valued at about $26,000. Manchester Capital Management LLC grew its position in shares of Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company's stock worth $26,000 after acquiring an additional 397 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Newmont in the 3rd quarter valued at $30,000. CVA Family Office LLC purchased a new stake in Newmont in the 4th quarter valued at $34,000. Finally, Operose Advisors LLC boosted its stake in 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 purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent research reports. TD Securities lifted their price objective on shares of Newmont from $43.00 to $48.00 and gave the company a "hold" rating in a research note on Friday, April 26th. Jefferies Financial Group initiated coverage on Newmont in a research note on Thursday, February 29th. They set a "buy" rating and a $38.00 price objective for the company. StockNews.com upgraded Newmont from a "sell" rating to a "hold" rating in a research note on Friday, April 26th. Sanford C. Bernstein decreased 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. Finally, BMO Capital Markets lowered their price objective on shares of Newmont from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $48.11.

Newmont Price Performance

NEM stock traded up $0.90 during trading on Friday, reaching $43.74. 10,168,802 shares of the company were exchanged, compared to its average volume of 11,192,171. 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 quick ratio of 1.90 and a current ratio of 2.15. The company has a market cap of $50.44 billion, a P/E ratio of -16.38, a PEG ratio of 1.02 and a beta of 0.48. The stock's 50 day moving average price is $38.46 and its 200 day moving average price is $37.28.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS 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 business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The company's quarterly revenue was up 50.2% on a year-over-year basis. As a group, analysts predict that Newmont Co. will post 2.37 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont's dividend payout ratio is currently -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.