Flputnam Investment Management Co. Makes New Investment in Newmont Co. (NYSE:NEM)

Flputnam Investment Management Co. purchased a new stake in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,414 shares of the basic materials company’s stock, valued at approximately $224,000.

A number of other hedge funds also recently modified their holdings of the business. Blair William & Co. IL lifted its holdings in Newmont by 14.8% during the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after buying an additional 5,484 shares during the period. Sei Investments Co. lifted its stake in shares of Newmont by 19.3% in the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock worth $5,219,000 after acquiring an additional 10,692 shares during the period. Cetera Investment Advisers boosted its holdings in Newmont by 46.9% in the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after acquiring an additional 8,915 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Newmont by 7.2% during the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock worth $47,324,000 after purchasing an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Newmont by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEM shares. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Scotiabank lowered their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, BMO Capital Markets reduced their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.97.

Newmont Trading Down 0.0 %

NYSE:NEM opened at $38.55 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. Newmont Co. has a one year low of $29.42 and a one year high of $50.18. The company has a market cap of $44.44 billion, a PE ratio of -16.20, a PEG ratio of 1.02 and a beta of 0.50. The firm has a 50-day moving average of $34.70 and a 200-day moving average of $36.81.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, equities research analysts expect that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio is -42.02%.

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.