Sumitomo Mitsui DS Asset Management Company Ltd Has $5.80 Million Holdings in Newmont Co. (NYSE:NEM)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Newmont Co. (NYSE:NEM) by 29.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 140,151 shares of the basic materials company’s stock after buying an additional 31,898 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Newmont were worth $5,801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Newmont by 17.6% in the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after buying an additional 12,360,775 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Newmont by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock worth $628,278,000 after purchasing an additional 483,377 shares in the last quarter. Northern Trust Corp lifted its position in shares of Newmont by 5.7% in the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock worth $381,203,000 after purchasing an additional 554,513 shares in the last quarter. Morgan Stanley lifted its position in shares of Newmont by 1.0% in the fourth quarter. Morgan Stanley now owns 9,135,415 shares of the basic materials company’s stock worth $431,192,000 after purchasing an additional 94,108 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Newmont by 5.8% in the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock worth $289,232,000 after purchasing an additional 428,537 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NEM. TD Securities dropped their price target on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Jefferies Financial Group began coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. BMO Capital Markets dropped their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Royal Bank of Canada dropped their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Newmont has an average rating of “Hold” and an average price target of $50.89.

Newmont Price Performance

NEM stock opened at $39.02 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The company’s 50-day simple moving average is $34.82 and its 200 day simple moving average is $36.85.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. Sell-side analysts forecast that Newmont Co. will post 1.98 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. Stockholders of record on Tuesday, March 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. Newmont’s dividend payout ratio (DPR) is currently -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.