Metis Global Partners LLC Raises Holdings in Newmont Co. (NYSE:NEM)

Metis Global Partners LLC raised its stake in Newmont Co. (NYSE:NEM) by 43.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,412 shares of the basic materials company’s stock after purchasing an additional 25,464 shares during the period. Metis Global Partners LLC’s holdings in Newmont were worth $3,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Grey Street Capital LLC lifted its holdings in Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after buying an additional 289 shares during the last quarter. Reitz Capital Advisors LLC boosted its holdings in Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares in the last quarter. Antonetti Capital Management LLC raised its holdings in Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 300 shares in the last quarter. Sigma Planning Corp lifted its position in shares of Newmont by 4.6% during the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after buying an additional 309 shares during the last quarter. Finally, Jacobsen Capital Management boosted its holdings in shares of Newmont by 3.2% in the 4th quarter. Jacobsen Capital Management now owns 11,841 shares of the basic materials company’s stock valued at $490,000 after buying an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM traded up $0.73 during mid-day trading on Monday, reaching $41.39. 7,677,292 shares of the company’s stock traded hands, compared to its average volume of 13,560,270. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $49.08. The stock has a market capitalization of $47.73 billion, a P/E ratio of -15.46, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. The business’s 50-day moving average price is $36.40 and its 200-day moving average price is $36.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. Equities analysts predict that Newmont Co. will post 2.32 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given 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 2.42%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NEM shares. BMO Capital Markets cut their target price on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday. Scotiabank dropped 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. TD Securities increased their price target on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Jefferies Financial Group assumed 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. Finally, Royal Bank of Canada reduced their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.35.

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.