Lazard Asset Management LLC Has $441,000 Position in Newmont Co. (NYSE:NEM)

Lazard Asset Management LLC reduced its holdings in shares of Newmont Co. (NYSE:NEMGet Rating) by 86.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,139 shares of the basic materials company’s stock after selling 44,198 shares during the quarter. Lazard Asset Management LLC’s holdings in Newmont were worth $441,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NEM. Invesco Ltd. grew its stake in shares of Newmont by 44.2% in the 3rd quarter. Invesco Ltd. now owns 10,151,231 shares of the basic materials company’s stock valued at $551,212,000 after buying an additional 3,109,683 shares during the period. Van ECK Associates Corp grew its stake in shares of Newmont by 6.0% in the 4th quarter. Van ECK Associates Corp now owns 39,746,651 shares of the basic materials company’s stock valued at $2,465,087,000 after buying an additional 2,256,671 shares during the period. Marathon Asset Mgmt Ltd bought a new position in Newmont in the 4th quarter valued at about $90,515,000. KBC Group NV lifted its position in Newmont by 99.8% in the 4th quarter. KBC Group NV now owns 2,222,845 shares of the basic materials company’s stock valued at $137,861,000 after acquiring an additional 1,110,394 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Newmont by 27.5% in the 4th quarter. First Trust Advisors LP now owns 3,738,666 shares of the basic materials company’s stock valued at $231,872,000 after acquiring an additional 807,159 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.

NEM has been the topic of several recent research reports. Bank of America raised their price target on shares of Newmont from $70.00 to $75.00 in a research report on Monday, February 28th. National Bankshares dropped their price target on shares of Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 26th. Raymond James dropped their price target on shares of Newmont from $92.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, April 25th. Credit Suisse Group cut shares of Newmont from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 19th. Finally, Fundamental Research reissued a “buy” rating and set a $79.52 target price on shares of Newmont in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.69.

NYSE:NEM opened at $65.25 on Friday. 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 capitalization of $51.79 billion, a PE ratio of 49.81 and a beta of 0.36. The firm’s 50 day moving average is $76.45 and its 200 day moving average is $65.98. Newmont Co. has a 12 month low of $52.60 and a 12 month high of $86.37.

Newmont (NYSE:NEMGet 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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts predict that Newmont Co. will post 3.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, June 2nd will be paid a $0.55 dividend. The ex-dividend date is Wednesday, June 1st. This represents a $2.20 dividend on an annualized basis and a yield of 3.37%. Newmont’s dividend payout ratio is 167.94%.

In other news, EVP Stephen P. Gottesfeld sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $73.76, for a total transaction of $295,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Blake Rhodes sold 500 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $66.94, for a total transaction of $33,470.00. The disclosure for this sale can be found here. Insiders sold a total of 69,843 shares of company stock valued at $5,199,013 over the last quarter. 0.11% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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