Newmont Co. (NYSE:NEM) Position Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in shares of Newmont Co. (NYSE:NEM) by 83.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 470,988 shares of the basic materials company’s stock after selling 2,452,228 shares during the period. Los Angeles Capital Management LLC owned 0.06% of Newmont worth $19,494,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc bought a new position in Newmont during the fourth quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in Newmont during the third quarter worth about $26,000. CVA Family Office LLC acquired a new stake in Newmont during the fourth quarter valued at approximately $34,000. OFI Invest Asset Management bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $30,000. Finally, Operose Advisors LLC raised its holdings in shares of Newmont by 156.8% in the 3rd quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after buying an additional 635 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Down 1.0 %

NYSE NEM traded down $0.39 on Friday, reaching $40.66. The company had a trading volume of 7,306,324 shares, compared to its average volume of 14,411,746. The company’s fifty day moving average is $36.21 and its 200-day moving average is $37.01. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of -15.23, a price-to-earnings-growth ratio of 0.97 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business earned $0.40 EPS. The business’s quarterly revenue was up 50.2% on a year-over-year basis. On average, research analysts forecast that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday. Jefferies Financial Group initiated coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. TD Securities increased their target price on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, BMO Capital Markets dropped their price objective on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.35.

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.