Vima LLC Buys Shares of 12,885 Newmont Co. (NYSE:NEM)

Vima LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,885 shares of the basic materials company’s stock, valued at approximately $533,000. Newmont makes up about 1.2% of Vima LLC’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEM. State of Alaska Department of Revenue grew its holdings in shares of Newmont by 27.5% during the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after buying an additional 36,645 shares during the last quarter. Principal Financial Group Inc. boosted its position in Newmont by 34.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock valued at $53,009,000 after buying an additional 325,320 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Newmont by 13.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after buying an additional 94,692 shares during the period. Premier Fund Managers Ltd acquired a new stake in Newmont during the 4th quarter valued at approximately $1,276,000. Finally, KLCM Advisors Inc. boosted its holdings in shares of Newmont by 4.3% in the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after acquiring an additional 17,791 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM traded up $0.26 during midday trading on Friday, hitting $40.82. The company’s stock had a trading volume of 5,505,282 shares, compared to its average volume of 7,632,789. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $45.92. The company has a market cap of $47.07 billion, a P/E ratio of -15.29, a price-to-earnings-growth ratio of 0.35 and a beta of 0.52. 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 business’s 50 day simple moving average is $41.06 and its 200 day simple moving average is $37.96.

Newmont (NYSE:NEM) last released 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 negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the company posted $0.40 EPS. The business’s revenue was up 50.2% on a year-over-year basis. On average, analysts forecast that Newmont Co. will post 2.42 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NEM shares. Citigroup decreased their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Scotiabank boosted their price target on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. Finally, StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $48.36.

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.