Livforsakringsbolaget Skandia Omsesidigt Has $92,000 Stake in Newmont Co. (NYSE:NEM)

Livforsakringsbolaget Skandia Omsesidigt raised its position in Newmont Co. (NYSE:NEM) by 162.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,214 shares of the basic materials company’s stock after purchasing an additional 1,371 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Newmont were worth $92,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL increased its position in shares of Newmont by 14.8% in the first quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock valued at $3,378,000 after acquiring an additional 5,484 shares during the last quarter. Sei Investments Co. increased its position 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 valued at $5,219,000 after acquiring an additional 10,692 shares during the last quarter. Cetera Investment Advisers increased its position in shares of 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. grew its holdings in Newmont by 7.2% during the first 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 period. Finally, Parkside Financial Bank & Trust grew its holdings in Newmont by 25.8% during the first 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.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NEM shares. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Citigroup reduced their price target on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Scotiabank reduced their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, TD Securities reduced their price objective on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.97.

Newmont Trading Up 1.2 %

Shares of NEM stock opened at $39.03 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a market cap of $44.99 billion, a P/E ratio of -16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. The stock has a 50 day simple moving average of $34.82 and a 200 day simple moving average of $36.83. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18.

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

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.56%. Newmont’s dividend payout ratio (DPR) is presently -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.