Maryland State Retirement & Pension System Has $3.72 Million Stake in Newmont Co. (NYSE:NEM)

Maryland State Retirement & Pension System increased its stake in shares of Newmont Co. (NYSE:NEM) by 47.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,784 shares of the basic materials company’s stock after buying an additional 29,017 shares during the period. Maryland State Retirement & Pension System’s holdings in Newmont were worth $3,716,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reduced their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Citigroup decreased their price target 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. Finally, Jefferies Financial Group initiated coverage on Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.35.

Newmont Trading Up 0.1 %

Shares of NEM traded up $0.04 during midday trading on Tuesday, reaching $41.43. The stock had a trading volume of 4,970,640 shares, compared to its average volume of 13,459,188. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The firm has a 50 day simple moving average of $36.62 and a 200-day simple moving average of $36.99. Newmont Co. has a one year low of $29.42 and a one year high of $49.08.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company posted $0.40 earnings per share. Newmont’s quarterly revenue was up 50.2% on a year-over-year basis. On average, equities analysts expect that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 paid a $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

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.