Newmont Co. (NYSE:NEM) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its position in shares of Newmont Co. (NYSE:NEM) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,735 shares of the basic materials company’s stock after acquiring an additional 6,602 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Newmont were worth $6,032,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 valued at $3,051,291,000 after purchasing an additional 12,360,775 shares in the last quarter. Norges Bank acquired a new stake in Newmont in the 4th quarter valued at about $332,897,000. Caisse DE Depot ET Placement DU Quebec raised its position 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 valued at $356,749,000 after purchasing an additional 2,281,418 shares in the last quarter. Ameriprise Financial Inc. raised its position 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 valued at $196,706,000 after purchasing an additional 2,019,591 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position 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 valued at $236,145,000 after purchasing an additional 1,919,693 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEM. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Citigroup dropped their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Scotiabank dropped their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Finally, BMO Capital Markets dropped their price objective 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 assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.97.

Newmont Stock Up 1.2 %

Shares of NEM stock opened at $39.02 on Friday. The business’s 50 day moving average is $34.82 and its two-hundred day moving average is $36.84. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last announced its earnings results 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). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Sell-side analysts expect that Newmont Co. will post 1.98 earnings per share for the current 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 paid a $0.25 dividend. 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 currently -42.02%.

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.