National Bank of Canada FI Raises Stock Position in Newmont Co. (NYSE:NEM)

National Bank of Canada FI grew its holdings in shares of Newmont Co. (NYSE:NEM) by 36.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 owned about 0.30% of Newmont worth $96,416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NEM. Mizuho Securities Co. Ltd. purchased a new stake in shares of Newmont during the third quarter worth approximately $26,000. Life Planning Partners Inc acquired a new position in Newmont in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of Newmont in the third quarter valued at approximately $30,000. CVA Family Office LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $34,000. Finally, Operose Advisors LLC boosted its holdings in shares of 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 acquiring an additional 635 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Scotiabank decreased their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets decreased their price target on Newmont from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday. Citigroup cut their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Finally, Jefferies Financial Group began coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $48.35.

Newmont Price Performance

Shares of NEM traded down $0.39 during trading hours on Friday, reaching $40.66. 7,306,324 shares of the company traded hands, compared to its average volume of 14,411,746. 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 capitalization of $46.89 billion, a PE ratio of -15.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. The stock has a fifty day simple moving average of $36.40 and a 200 day simple moving average of $36.97. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. As a group, research analysts predict that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Announces Dividend

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

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.