Ninety One SA PTY Ltd Acquires 5,302 Shares of Newmont Co. (NYSE:NEM)

Ninety One SA PTY Ltd grew its holdings in shares of Newmont Co. (NYSE:NEM) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,390 shares of the basic materials company’s stock after buying an additional 5,302 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Newmont were worth $3,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Newmont by 17.6% during the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after buying an additional 12,360,775 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Newmont by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock worth $628,278,000 after buying an additional 483,377 shares in the last quarter. Northern Trust Corp increased its stake in shares of Newmont by 5.7% during the 3rd quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock worth $381,203,000 after purchasing an additional 554,513 shares during the last quarter. Morgan Stanley increased its stake in shares of Newmont by 1.0% during the 4th quarter. Morgan Stanley now owns 9,135,415 shares of the basic materials company’s stock worth $431,192,000 after purchasing an additional 94,108 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Newmont by 5.8% during the 3rd quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock worth $289,232,000 after purchasing an additional 428,537 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM traded down $0.11 on Thursday, reaching $38.45. 4,497,540 shares of the company’s stock were exchanged, compared to its average volume of 13,543,987. The company has a fifty day moving average of $34.59 and a 200-day moving average of $36.80. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of -16.20, a PEG ratio of 1.00 and a beta of 0.50. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, research analysts predict that Newmont Co. will post 2.02 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Analyst Ratings Changes

NEM has been the topic of several recent analyst reports. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Jefferies Financial Group initiated coverage on shares of Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. BMO Capital Markets lowered their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Citigroup decreased their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Finally, Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Hold” and an average target price of $51.97.

Newmont Company 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.