GAMMA Investing LLC Makes New $275,000 Investment in Newmont Co. (NYSE:NEM)

GAMMA Investing LLC bought a new stake in Newmont Co. (NYSE:NEM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 6,648 shares of the basic materials company’s stock, valued at approximately $275,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TFC Financial Management Inc. lifted its stake in shares of Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Newmont during the 3rd quarter valued at about $26,000. Life Planning Partners Inc purchased a new position in shares of Newmont during the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in shares of Newmont during the 3rd quarter worth approximately $30,000. Finally, CVA Family Office LLC purchased a new stake in shares of Newmont in the 4th quarter worth approximately $34,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several analyst reports. Argus cut Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. TD Securities decreased their target price on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Scotiabank cut their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. StockNews.com lowered Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.89.

Newmont Price Performance

Shares of Newmont stock opened at $43.41 on Friday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The firm’s 50-day moving average price is $35.35 and its 200 day moving average price is $36.92. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. Newmont’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, research analysts expect that Newmont Co. will post 1.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. Newmont’s payout ratio is -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.