Wolverine Asset Management LLC Makes New Investment in Newmont Co. (NYSE:NEM)

Wolverine Asset Management LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 19,000 shares of the basic materials company’s stock, valued at approximately $786,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after buying an additional 12,360,775 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Newmont by 61.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock valued at $196,706,000 after purchasing an additional 2,019,591 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Newmont by 36.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company’s stock worth $135,435,000 after buying an additional 868,804 shares during the period. California Public Employees Retirement System raised its position in Newmont by 14.3% in the fourth quarter. California Public Employees Retirement System now owns 5,362,838 shares of the basic materials company’s stock valued at $221,968,000 after purchasing an additional 671,110 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Newmont by 3,044.9% during the 4th quarter. International Assets Investment Management LLC now owns 612,003 shares of the basic materials company’s stock worth $25,331,000 after acquiring an additional 592,543 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Up 12.5 %

NEM opened at $43.41 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $50.04 billion, a price-to-earnings ratio of -18.24, a P/E/G ratio of 1.07 and a beta of 0.50. The company has a 50-day simple moving average of $35.35 and a 200 day simple moving average of $36.92. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The firm’s revenue was up 50.2% compared to the same quarter last year. Analysts predict that Newmont Co. will post 1.99 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is currently -42.02%.

Analysts Set New Price Targets

Several research analysts have weighed in on NEM shares. Royal Bank of Canada decreased their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Scotiabank cut their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. TD Securities cut their target price on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, BMO Capital Markets cut their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. One investment 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.89.

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.