LGT Capital Partners LTD. Boosts Stake in Newmont Co. (NYSE:NEM)

LGT Capital Partners LTD. grew its holdings in shares of 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 fund owned 825,880 shares of the basic materials company’s stock after acquiring an additional 9,380 shares during the quarter. Newmont comprises 1.0% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 29th largest position. LGT Capital Partners LTD.’s holdings in Newmont were worth $34,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after acquiring an additional 26,599 shares during the last quarter. Muhlenkamp & Co. Inc. bought a new position in shares of Newmont during the 4th quarter valued at $5,944,000. SG Americas Securities LLC increased its stake in shares of Newmont by 1,770.8% in the fourth quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock worth $2,635,000 after buying an additional 60,261 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Newmont by 101.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 925,742 shares of the basic materials company’s stock worth $38,316,000 after buying an additional 465,903 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in Newmont by 14.3% in the fourth quarter. Fulton Bank N.A. now owns 8,838 shares of the basic materials company’s stock worth $366,000 after buying an additional 1,107 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BMO Capital Markets dropped their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Scotiabank cut their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. UBS Group decreased their target price on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, December 13th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Finally, TD Securities reduced their target price on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $52.97.

Newmont Trading Up 1.7 %

NEM stock opened at $35.84 on Friday. The business’s 50-day moving average is $33.52 and its two-hundred day moving average is $36.94. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $52.76. 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 (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. On average, equities research analysts anticipate that Newmont Co. will post 1.88 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 yield of 2.79%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Insiders Place Their Bets

In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $41.26, for a total value of $226,930.00. Following the transaction, the chief operating officer now directly owns 54,251 shares of the company’s stock, valued at approximately $2,238,396.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

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.