National Bank of Canada FI Has $96.42 Million Stock Position in Newmont Co. (NYSE:NEM)

National Bank of Canada FI raised its position in shares of Newmont Co. (NYSE:NEM) by 36.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,356,986 shares of the basic materials company’s stock after purchasing an additional 633,343 shares during the period. National Bank of Canada FI’s holdings in Newmont were worth $96,416,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NEM. Life Planning Partners Inc acquired a new position in shares of Newmont during the fourth quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Newmont during the third quarter worth $26,000. CVA Family Office LLC acquired a new stake in Newmont in the fourth quarter valued at $34,000. OFI Invest Asset Management acquired a new stake in Newmont in the third quarter valued at $30,000. Finally, Operose Advisors LLC increased its holdings in Newmont by 156.8% in the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 635 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 1.0 %

NYSE:NEM traded down $0.39 on Friday, hitting $40.66. The stock had a trading volume of 7,306,324 shares, compared to its average volume of 14,411,746. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The stock has a market cap of $46.89 billion, a P/E ratio of -15.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The firm’s fifty day simple moving average is $36.40 and its two-hundred day simple moving average is $36.97.

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

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEM. Jefferies Financial Group began coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. Scotiabank cut their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. TD Securities upped their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, Citigroup cut their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $48.35.

Newmont 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.