Lesa Sroufe & Co Grows Stock Position in Newmont Co. (NYSE:NEM)

Lesa Sroufe & Co raised its holdings in Newmont Co. (NYSE:NEM) by 31.4% in the 4th quarter, HoldingsChannel reports. The firm owned 82,668 shares of the basic materials company’s stock after purchasing an additional 19,731 shares during the quarter. Newmont accounts for approximately 3.5% of Lesa Sroufe & Co’s portfolio, making the stock its 6th largest position. Lesa Sroufe & Co’s holdings in Newmont were worth $3,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NEM. TFC Financial Management Inc. raised its holdings in shares of Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after buying an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Newmont in the 3rd quarter valued at $26,000. Life Planning Partners Inc bought a new stake in shares of Newmont during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new position in Newmont in the third quarter valued at about $30,000. Finally, CVA Family Office LLC acquired a new stake in Newmont in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent research reports. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Scotiabank reduced their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets lowered their price target on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, Argus cut Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Hold” and a consensus price target of $50.89.

Newmont Price Performance

Shares of NEM opened at $37.71 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The stock has a market capitalization of $43.47 billion, a P/E ratio of -15.84, a P/E/G ratio of 1.01 and a beta of 0.50. The company has a 50 day moving average of $35.01 and a 200-day moving average of $36.86.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Co. will post 1.98 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.65%. Newmont’s payout ratio is presently -42.02%.

About Newmont

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.