32,574 Shares in Newmont Co. (NYSE:NEM) Bought by Duality Advisers LP

Duality Advisers LP bought a new position in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,574 shares of the basic materials company’s stock, valued at approximately $1,348,000.

Several other institutional investors have also recently made changes to their positions in the business. AE Wealth Management LLC increased its holdings in Newmont by 2.5% in the third quarter. AE Wealth Management LLC now owns 30,989 shares of the basic materials company’s stock valued at $1,145,000 after buying an additional 767 shares in the last quarter. HB Wealth Management LLC increased its holdings in Newmont by 7.2% in the third quarter. HB Wealth Management LLC now owns 10,877 shares of the basic materials company’s stock valued at $402,000 after buying an additional 729 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in Newmont by 81.8% in the third quarter. Meridian Wealth Management LLC now owns 18,084 shares of the basic materials company’s stock valued at $668,000 after buying an additional 8,139 shares in the last quarter. LGT Capital Partners LTD. increased its holdings in Newmont by 2.2% in the third quarter. LGT Capital Partners LTD. now owns 816,500 shares of the basic materials company’s stock valued at $30,170,000 after buying an additional 17,710 shares in the last quarter. Finally, Marion Wealth Management increased its holdings in Newmont by 10.6% in the third quarter. Marion Wealth Management now owns 17,449 shares of the basic materials company’s stock valued at $645,000 after buying an additional 1,666 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NEM. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Jefferies Financial Group initiated coverage on shares of Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. TD Securities dropped their target price on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. One investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.89.

Newmont Price Performance

Newmont stock opened at $37.71 on Wednesday. The company’s 50 day simple moving average is $35.01 and its 200-day simple moving average is $36.86. The company has a market capitalization of $43.47 billion, a price-to-earnings ratio of -15.84, a price-to-earnings-growth ratio of 1.01 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. Newmont’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. As a group, equities research analysts expect that Newmont Co. will post 1.98 earnings per share for the current year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is -42.02%.

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.