Aubrey Capital Management Ltd Takes Position in Newmont Co. (NYSE:NEM)

Aubrey Capital Management Ltd purchased a new stake in Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,238 shares of the basic materials company’s stock, valued at approximately $636,000.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Newmont by 17.6% during the third 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. Ameriprise Financial Inc. grew its position in Newmont by 61.1% during the third quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock worth $196,706,000 after buying an additional 2,019,591 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Newmont by 36.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company’s stock worth $135,435,000 after buying an additional 868,804 shares in the last quarter. California Public Employees Retirement System grew its position in Newmont by 14.3% during the fourth quarter. California Public Employees Retirement System now owns 5,362,838 shares of the basic materials company’s stock worth $221,968,000 after buying an additional 671,110 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Newmont by 3,044.9% during the fourth quarter. International Assets Investment Management LLC now owns 612,003 shares of the basic materials company’s stock worth $25,331,000 after buying an additional 592,543 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Down 1.6 %

Shares of NEM stock traded down $0.68 during midday trading on Friday, reaching $42.73. 14,689,213 shares of the stock were exchanged, compared to its average volume of 14,308,821. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The company’s 50 day moving average is $35.54 and its two-hundred day moving average is $36.95. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.32. The firm has a market cap of $49.26 billion, a PE ratio of -16.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.50.

Newmont (NYSE:NEM) last posted 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. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, equities research analysts predict that Newmont Co. will post 2.16 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. Newmont’s payout ratio is currently -37.45%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research reports. Royal Bank of Canada cut their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. TD Securities boosted their target price on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday. BMO Capital Markets lowered their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Finally, Argus lowered Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.