GAMMA Investing LLC Acquires Shares of 6,648 Newmont Co. (NYSE:NEM)

GAMMA Investing LLC acquired a new stake in Newmont Co. (NYSE:NEM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,648 shares of the basic materials company’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Grey Street Capital LLC increased its stake in shares of Newmont by 0.4% in the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after acquiring an additional 289 shares during the last quarter. Reitz Capital Advisors LLC increased its stake in shares of Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after acquiring an additional 298 shares during the last quarter. Antonetti Capital Management LLC increased its stake in shares of Newmont by 30.0% in the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 300 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Newmont by 4.6% in the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 309 shares during the last quarter. Finally, Hendley & Co. Inc. increased its position in shares of Newmont by 0.6% during the 3rd quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock worth $1,920,000 after purchasing an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $43.41 on Friday. 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 business has a 50-day moving average of $35.35 and a two-hundred day moving average of $36.92. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, analysts anticipate that Newmont Co. will post 1.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Royal Bank of Canada dropped their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. TD Securities decreased their target price on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, Jefferies Financial Group began coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Newmont has a consensus rating of “Hold” and a consensus price target 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.