Berkeley Capital Partners LLC Boosts Stake in Newmont Co. (NYSE:NEM)

Berkeley Capital Partners LLC lifted its holdings in Newmont Co. (NYSE:NEM) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,960 shares of the basic materials company’s stock after purchasing an additional 318 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Newmont were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Life Planning Partners Inc purchased a new position in shares of Newmont in the fourth quarter worth $26,000. Manchester Capital Management LLC increased its position in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 397 shares during the last quarter. CVA Family Office LLC purchased a new stake in Newmont during the fourth quarter valued at $34,000. Operose Advisors LLC increased its position in Newmont by 156.8% during the third 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. Finally, Advantage Trust Co purchased a new stake in Newmont during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 1.0 %

NYSE:NEM traded down $0.43 during midday trading on Tuesday, hitting $44.01. The stock had a trading volume of 3,990,185 shares, compared to its average volume of 12,899,014. Newmont Co. has a one year low of $29.42 and a one year high of $45.92. The company has a market capitalization of $50.75 billion, a price-to-earnings ratio of -16.47, a PEG ratio of 1.02 and a beta of 0.48. The stock has a 50-day moving average of $38.65 and a 200 day moving average of $37.32. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts forecast that Newmont Co. will post 2.37 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given 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 2.27%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analyst Ratings Changes

A number of research firms recently commented on NEM. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Citigroup cut their price target on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Royal Bank of Canada cut their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. BMO Capital Markets cut their price target on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, TD Securities boosted their price target on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.04.

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.