Baxter Bros Inc. Has $797,000 Stake in Newmont Co. (NYSE:NEM)

Baxter Bros Inc. lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,260 shares of the basic materials company’s stock after selling 2,335 shares during the period. Baxter Bros Inc.’s holdings in Newmont were worth $797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its holdings in shares of Newmont by 27.5% during the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after acquiring an additional 36,645 shares during the period. Janney Montgomery Scott LLC raised its position in Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after purchasing an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Newmont by 13.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after purchasing an additional 94,692 shares during the period. KLCM Advisors Inc. boosted its holdings in Newmont by 4.3% during the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after purchasing an additional 17,791 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake 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. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NEM. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. National Bank Financial lowered shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Jefferies Financial Group began coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price for the company. BMO Capital Markets reduced their price target on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada dropped their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.35.

Newmont Trading Down 1.0 %

NEM stock traded down $0.39 during trading on Friday, hitting $40.66. The company had a trading volume of 7,306,324 shares, compared to its average volume of 14,411,746. The firm has a 50-day moving average price of $36.40 and a 200-day moving average price of $37.02. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The stock has a market cap of $46.89 billion, a price-to-earnings ratio of -15.23, a PEG ratio of 0.96 and a beta of 0.48.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 positive return on equity of 6.88% and a negative net margin of 20.19%. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, analysts predict that Newmont Co. will post 2.32 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. Newmont’s payout ratio is presently -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.