Tucker Asset Management LLC Grows Stock Position in Newmont Co. (NYSE:NEM)

Tucker Asset Management LLC grew its stake in Newmont Co. (NYSE:NEM) by 8,963.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,888 shares of the basic materials company’s stock after purchasing an additional 6,812 shares during the period. Tucker Asset Management LLC’s holdings in Newmont were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEM. Vanguard Group Inc. increased its stake in shares of Newmont by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after purchasing an additional 12,360,775 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Newmont by 57.2% in the fourth quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock valued at $2,122,913,000 after buying an additional 18,664,614 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Newmont by 44.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock valued at $1,019,813,000 after buying an additional 7,635,657 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Newmont by 29.9% during the 4th quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock worth $983,267,000 after buying an additional 5,475,155 shares during the period. Finally, Norges Bank purchased a new position in shares of Newmont during the 4th quarter valued at approximately $604,516,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective for the company. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Sanford C. Bernstein lowered their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, TD Securities lifted their price target on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.36.

Newmont Trading Up 0.6 %

Shares of NEM traded up $0.26 during midday trading on Friday, reaching $40.82. The company had a trading volume of 5,505,282 shares, compared to its average volume of 7,632,789. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $45.92. 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 firm has a 50 day simple moving average of $41.06 and a 200-day simple moving average of $37.96. The stock has a market cap of $47.07 billion, a PE ratio of -15.29, a price-to-earnings-growth ratio of 0.35 and a beta of 0.52.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted $0.40 earnings per share. Newmont’s quarterly revenue was up 50.2% on a year-over-year basis. Research analysts forecast that Newmont Co. will post 2.42 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is presently -37.45%.

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.