Hussman Strategic Advisors Inc. Raises Stake in Newmont Co. (NYSE:NEM)

Hussman Strategic Advisors Inc. raised its position in Newmont Co. (NYSE:NEM) by 33.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,000 shares of the basic materials company’s stock after buying an additional 51,000 shares during the quarter. Newmont comprises about 1.9% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 4th largest position. Hussman Strategic Advisors Inc.’s holdings in Newmont were worth $8,444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NEM. Blair William & Co. IL grew its position in Newmont by 14.8% during the first quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after buying an additional 5,484 shares in the last quarter. Sei Investments Co. grew its position in Newmont by 19.3% during the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock worth $5,219,000 after buying an additional 10,692 shares in the last quarter. Cetera Investment Advisers grew its position in Newmont by 46.9% during the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock worth $2,217,000 after buying an additional 8,915 shares in the last quarter. Baird Financial Group Inc. grew its position 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 buying an additional 39,765 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position 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 buying an additional 278 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price for the company. Citigroup cut their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. BMO Capital Markets cut their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Scotiabank cut their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Newmont presently has an average rating of “Hold” and a consensus target price of $51.97.

Newmont Trading Up 1.2 %

NEM traded up $0.47 during midday trading on Friday, reaching $39.02. 10,439,077 shares of the company’s stock traded hands, compared to its average volume of 12,734,723. The firm has a fifty day moving average of $34.82 and a two-hundred day moving average of $36.84. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of -16.39, a P/E/G ratio of 1.03 and a beta of 0.50. 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 52 week low of $29.42 and a 52 week high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. On average, equities analysts anticipate that Newmont Co. will post 1.98 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Monday, March 4th. Newmont’s payout ratio is -42.02%.

Newmont 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.