Swiss National Bank Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Swiss National Bank increased its position in Newmont Co. (NYSE:NEM) by 41.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,603,805 shares of the basic materials company’s stock after buying an additional 1,047,645 shares during the quarter. Swiss National Bank’s holdings in Newmont were worth $149,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NEM. West Family Investments Inc. boosted its holdings in shares of Newmont by 1.0% during the 4th quarter. West Family Investments Inc. now owns 153,755 shares of the basic materials company’s stock valued at $6,364,000 after buying an additional 1,551 shares in the last quarter. LGT Group Foundation increased its position in shares of Newmont by 0.6% during the 4th quarter. LGT Group Foundation now owns 124,826 shares of the basic materials company’s stock valued at $5,205,000 after purchasing an additional 777 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Newmont by 81.7% during the 4th quarter. First Trust Direct Indexing L.P. now owns 18,566 shares of the basic materials company’s stock valued at $768,000 after purchasing an additional 8,347 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of Newmont by 30.8% during the 4th quarter. New York Life Investment Management LLC now owns 173,960 shares of the basic materials company’s stock valued at $7,200,000 after purchasing an additional 40,935 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Newmont by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,491,206 shares of the basic materials company’s stock valued at $61,721,000 after purchasing an additional 71,049 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NEM shares. TD Securities upped their price target on shares of Newmont from $43.00 to $48.00 and gave the company 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 report on Monday, February 26th. Jefferies Financial Group began coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada reduced their target price 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. Finally, Scotiabank reduced their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Seven investment 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, Newmont has an average rating of “Moderate Buy” and an average price target of $48.35.

Newmont Stock Down 1.0 %

NYSE NEM opened at $40.66 on Friday. The stock has a 50 day moving average price of $36.21 and a 200-day moving average price of $37.01. Newmont Co. has a one year low of $29.42 and a one year high of $50.18. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, equities analysts forecast that Newmont Co. will post 2.32 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.46%. Newmont’s payout ratio is presently -37.45%.

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.