Newmont Co. (NYSE:NEM) Shares Acquired by Lesa Sroufe & Co

Lesa Sroufe & Co increased its holdings in shares of Newmont Co. (NYSE:NEM) by 31.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,668 shares of the basic materials company’s stock after acquiring an additional 19,731 shares during the quarter. Newmont makes up approximately 3.5% of Lesa Sroufe & Co’s holdings, making the stock its 6th biggest holding. Lesa Sroufe & Co’s holdings in Newmont were worth $3,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of NEM. TFC Financial Management Inc. increased its holdings in shares of Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Newmont in the third quarter valued at approximately $26,000. Life Planning Partners Inc bought a new stake in shares of Newmont during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new position in shares of Newmont during the third quarter worth approximately $30,000. Finally, CVA Family Office LLC bought a new position in Newmont in the 4th quarter worth approximately $34,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $37.71 on Wednesday. The company has a market capitalization of $43.47 billion, a PE ratio of -15.84, a price-to-earnings-growth ratio of 1.01 and a beta of 0.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a fifty day moving average of $35.01 and a 200-day moving average of $36.86. Newmont Co. has a one year low of $29.42 and a one year high of $50.18.

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). The company had revenue of $3.96 billion for 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%. 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. As a group, equities analysts anticipate that Newmont Co. will post 1.98 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.65%. Newmont’s dividend payout ratio is currently -42.02%.

Analyst Ratings Changes

Several brokerages have weighed in on NEM. TD Securities cut their target price on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. BMO Capital Markets cut their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Scotiabank dropped their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Finally, Citigroup decreased their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Hold” and an average price target of $50.89.

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.