Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Newmont Co. (NYSE:NEM)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Newmont Co. (NYSE:NEM) by 48.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 452,422 shares of the basic materials company’s stock after acquiring an additional 148,131 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Newmont were worth $18,726,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue increased its holdings in shares of Newmont by 27.5% in the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after acquiring an additional 36,645 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Newmont by 22.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after acquiring an additional 26,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Newmont by 13.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after acquiring an additional 94,692 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Newmont by 70.5% in the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after purchasing an additional 35,303 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Newmont by 1,770.8% in the 4th quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock valued at $2,635,000 after purchasing an additional 60,261 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 0.0 %

Newmont stock opened at $38.55 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 50 day moving average of $34.70 and a two-hundred day moving average of $36.81. The stock has a market capitalization of $44.44 billion, a price-to-earnings ratio of -16.20, a PEG ratio of 1.02 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18.

Newmont (NYSE:NEM) last posted its quarterly earnings results 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). The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. As a group, research analysts expect that Newmont Co. will post 2.01 earnings per share for the current year.

Newmont Cuts Dividend

The firm also recently declared 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 was Monday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. Newmont’s dividend payout ratio is currently -42.02%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEM. Citigroup decreased their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. TD Securities decreased their target price on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Jefferies Financial Group began coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. Argus cut Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.