AlphaCrest Capital Management LLC grew its holdings in Newmont Co. (NYSE:NEM – Get Rating) by 353.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,204 shares of the basic materials company’s stock after acquiring an additional 14,188 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Newmont were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of NEM. Avondale Wealth Management bought a new position in Newmont in the fourth quarter worth $28,000. Bedel Financial Consulting Inc. lifted its position in Newmont by 105.9% in the fourth quarter. Bedel Financial Consulting Inc. now owns 492 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 253 shares during the period. Clearstead Advisors LLC bought a new position in Newmont in the third quarter worth $29,000. Manchester Capital Management LLC lifted its position in Newmont by 980.4% in the third quarter. Manchester Capital Management LLC now owns 551 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 500 shares during the period. Finally, Kozak & Associates Inc. bought a new position in Newmont in the third quarter worth $34,000. 78.41% of the stock is owned by institutional investors.
NEM has been the subject of several recent analyst reports. Jefferies Financial Group increased their price objective on Newmont from $67.00 to $72.00 and gave the stock a “hold” rating in a research note on Wednesday, March 9th. Fundamental Research reiterated a “buy” rating and set a $79.52 price objective on shares of Newmont in a research note on Tuesday. TD Securities dropped their price objective on Newmont from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, April 25th. StockNews.com initiated coverage on Newmont in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $75.00 to $72.00 in a research note on Monday, January 24th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.69.
Shares of NEM opened at $65.25 on Friday. Newmont Co. has a 1 year low of $52.60 and a 1 year high of $86.37. The company has a current ratio of 2.92, a quick ratio of 2.53 and a debt-to-equity ratio of 0.28. The stock has a market cap of $51.79 billion, a P/E ratio of 49.81 and a beta of 0.36. The stock’s 50-day moving average price is $76.45 and its two-hundred day moving average price is $65.98.
Newmont (NYSE:NEM – Get Rating) last released its quarterly earnings data on Friday, April 22nd. The basic materials company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). Newmont had a net margin of 8.53% and a return on equity of 10.24%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that Newmont Co. will post 3.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, June 1st. Newmont’s dividend payout ratio (DPR) is presently 167.94%.
About Newmont (Get Rating)
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
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