Strs Ohio Buys 53,642 Shares of Newmont Co. (NYSE:NEM)

Strs Ohio increased its stake in Newmont Co. (NYSE:NEM) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 309,251 shares of the basic materials company’s stock after purchasing an additional 53,642 shares during the quarter. Strs Ohio’s holdings in Newmont were worth $12,799,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NEM. Vanguard Group Inc. raised its holdings in Newmont by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after purchasing an additional 12,360,775 shares during the period. Norges Bank bought a new position in Newmont in the 4th quarter worth $332,897,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in Newmont by 103.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock worth $356,749,000 after purchasing an additional 2,281,418 shares during the period. Ameriprise Financial Inc. raised its holdings in Newmont by 61.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock worth $196,706,000 after purchasing an additional 2,019,591 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Newmont by 66.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,817,295 shares of the basic materials company’s stock worth $236,145,000 after purchasing an additional 1,919,693 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Down 0.8 %

Shares of NYSE NEM opened at $38.12 on Wednesday. The business’s 50 day moving average is $34.49 and its two-hundred day moving average is $36.78. 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 1-year low of $29.42 and a 1-year high of $50.18.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. As a group, analysts anticipate that Newmont Co. will post 2.02 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.62%. Newmont’s dividend payout ratio is currently -42.02%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada decreased their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. TD Securities decreased their price target on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Citigroup decreased their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, BMO Capital Markets decreased their price target on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.97.

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.