Sentry Investment Management LLC Has $246,000 Stock Position in Newmont Co. (NYSE:NEM)

Sentry Investment Management LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 28.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,951 shares of the basic materials company’s stock after buying an additional 1,319 shares during the period. Sentry Investment Management LLC’s holdings in Newmont were worth $246,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Blair William & Co. IL increased its holdings in Newmont by 14.8% during the first quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after buying an additional 5,484 shares during the last quarter. Sei Investments Co. increased its holdings in Newmont by 19.3% during the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock worth $5,219,000 after buying an additional 10,692 shares during the last quarter. Cetera Investment Advisers increased its holdings in Newmont by 46.9% during the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock worth $2,217,000 after buying an additional 8,915 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Newmont by 7.2% during the first quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock worth $47,324,000 after buying an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after buying an additional 278 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 0.8 %

NEM opened at $38.12 on Wednesday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a 50-day simple moving average of $34.49 and a 200 day simple moving average of $36.78. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 2.02 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.62%. Newmont’s dividend payout ratio is -42.02%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. TD Securities lowered their target price on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada lowered their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Finally, BMO Capital Markets reduced their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.97.

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.