BI Asset Management Fondsmaeglerselskab A S Purchases 11,616 Shares of Newmont Co. (NYSE:NEM)

BI Asset Management Fondsmaeglerselskab A S boosted its position in Newmont Co. (NYSE:NEM) by 46.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 36,500 shares of the basic materials company’s stock after acquiring an additional 11,616 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Newmont were worth $1,511,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NEM. Grey Street Capital LLC increased its holdings in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after acquiring an additional 289 shares in the last quarter. Reitz Capital Advisors LLC increased its holdings in shares of Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after acquiring an additional 298 shares in the last quarter. Antonetti Capital Management LLC increased its holdings in 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 buying an additional 300 shares during the period. Sigma Planning Corp increased its holdings in 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 buying an additional 309 shares during the period. Finally, Jacobsen Capital Management increased its holdings in Newmont by 3.2% in the 4th quarter. Jacobsen Capital Management now owns 11,841 shares of the basic materials company’s stock worth $490,000 after buying an additional 368 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Sanford C. Bernstein cut their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. TD Securities increased their price target on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Citigroup lowered their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.04.

Newmont Trading Down 0.9 %

Shares of NEM stock opened at $44.03 on Wednesday. The stock’s fifty day moving average is $38.85 and its two-hundred day moving average is $37.36. 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 market capitalization of $50.77 billion, a P/E ratio of -16.49, a PEG ratio of 1.03 and a beta of 0.48. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $45.92.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. Research analysts expect that Newmont Co. will post 2.37 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. 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 dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -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.