Newmont Co. (NYSE:NEM) Shares Acquired by LGT Capital Partners LTD.

LGT Capital Partners LTD. lifted its stake in Newmont Co. (NYSE:NEM) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 825,880 shares of the basic materials company’s stock after acquiring an additional 9,380 shares during the period. Newmont accounts for approximately 1.0% of LGT Capital Partners LTD.’s holdings, making the stock its 29th biggest position. LGT Capital Partners LTD. owned approximately 0.10% of Newmont worth $34,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NEM. Uncommon Cents Investing LLC raised its stake in shares of Newmont by 18.9% in the 4th quarter. Uncommon Cents Investing LLC now owns 15,175 shares of the basic materials company’s stock worth $628,000 after buying an additional 2,410 shares in the last quarter. A. D. Beadell Investment Counsel Inc. lifted its holdings in Newmont by 5.6% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 8,715 shares of the basic materials company’s stock valued at $360,000 after acquiring an additional 465 shares during the last quarter. Reitz Capital Advisors LLC grew its stake in shares of Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after purchasing an additional 298 shares during the last quarter. Centennial Wealth Advisory LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $220,000. Finally, Blackston Financial Advisory Group LLC acquired a new stake in Newmont during the fourth quarter valued at approximately $213,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 1.7 %

Shares of NEM stock opened at $35.84 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $33.52 and its 200 day simple moving average is $36.94. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $52.76.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. Newmont’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. As a group, equities research analysts forecast that Newmont Co. will post 1.88 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is currently -42.02%.

Insider Transactions at Newmont

In other news, COO Robert D. Atkinson sold 5,500 shares of Newmont stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total transaction of $226,930.00. Following the sale, the chief operating officer now directly owns 54,251 shares in the company, valued at approximately $2,238,396.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. UBS Group reduced their price objective on Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, December 13th. Jefferies Financial Group initiated coverage on shares of Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective for the company. StockNews.com downgraded shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada lowered their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $52.97.

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.