Swiss National Bank Buys 1,047,645 Shares of Newmont Co. (NYSE:NEM)

Swiss National Bank raised its stake in shares of Newmont Co. (NYSE:NEM) by 41.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,603,805 shares of the basic materials company’s stock after purchasing an additional 1,047,645 shares during the quarter. Swiss National Bank owned 0.45% of Newmont worth $149,161,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Associates Ltd. boosted its holdings in Newmont by 15.6% during the third quarter. Pinnacle Associates Ltd. now owns 12,753 shares of the basic materials company’s stock valued at $471,000 after purchasing an additional 1,721 shares in the last quarter. Raymond James & Associates boosted its position in Newmont by 18.3% in the third quarter. Raymond James & Associates now owns 530,565 shares of the basic materials company’s stock valued at $19,604,000 after buying an additional 82,115 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Newmont by 2.8% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 389,180 shares of the basic materials company’s stock worth $14,380,000 after buying an additional 10,700 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Newmont by 1.9% in the third quarter. Brown Advisory Inc. now owns 75,132 shares of the basic materials company’s stock valued at $2,776,000 after acquiring an additional 1,417 shares during the last quarter. Finally, Forsta AP Fonden boosted its holdings in shares of Newmont by 3.7% in the 3rd quarter. Forsta AP Fonden now owns 184,400 shares of the basic materials company’s stock worth $6,814,000 after acquiring an additional 6,600 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on NEM shares. BMO Capital Markets reduced their price objective on Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday. Scotiabank lowered their target price 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. Jefferies Financial Group started coverage on Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. Citigroup lowered their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Finally, National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.35.

Newmont Stock Performance

NYSE:NEM opened at $40.66 on Friday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $36.21 and its 200-day simple moving average is $37.01.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The business’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. Research analysts anticipate that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

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.