AlphaCrest Capital Management LLC boosted its position in Newmont Co. (NYSE:NEM – Get Rating) by 353.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,204 shares of the basic materials company’s stock after purchasing an additional 14,188 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Newmont were worth $1,129,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sawtooth Solutions LLC increased its stake in shares of Newmont by 8.7% in the third quarter. Sawtooth Solutions LLC now owns 4,277 shares of the basic materials company’s stock valued at $232,000 after buying an additional 342 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Newmont by 2.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 187,579 shares of the basic materials company’s stock valued at $10,186,000 after buying an additional 3,631 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Newmont by 5.8% in the third quarter. Orion Portfolio Solutions LLC now owns 7,602 shares of the basic materials company’s stock valued at $413,000 after buying an additional 415 shares during the period. Forsta AP Fonden increased its stake in shares of Newmont by 25.9% in the third quarter. Forsta AP Fonden now owns 214,100 shares of the basic materials company’s stock valued at $11,626,000 after buying an additional 44,000 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Newmont by 14.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 14,928 shares of the basic materials company’s stock valued at $811,000 after buying an additional 1,935 shares during the period. 78.41% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on NEM. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $75.00 to $72.00 in a research note on Monday, January 24th. National Bank Financial lowered Newmont from an “outperform” rating to a “sector perform” rating and set a $94.28 target price on the stock. in a research report on Wednesday, April 20th. They noted that the move was a valuation call. Fundamental Research restated a “buy” rating and set a $79.52 target price on shares of Newmont in a research report on Tuesday. TD Securities cut their target price on Newmont from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, April 25th. Finally, Bank of America upped their target price on Newmont from $70.00 to $75.00 in a research report on Monday, February 28th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.69.
Shares of NEM opened at $65.25 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.53 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $51.79 billion, a price-to-earnings ratio of 49.81 and a beta of 0.36. The stock has a 50 day moving average of $76.45 and a 200 day moving average of $65.98. Newmont Co. has a 12 month low of $52.60 and a 12 month high of $86.37.
Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings results on Friday, April 22nd. The basic materials company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Newmont had a net margin of 8.53% and a return on equity of 10.24%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that Newmont Co. will post 3.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, June 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Wednesday, June 1st. Newmont’s payout ratio is 167.94%.
About Newmont (Get Rating)
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
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