Newmont Co. (NYSE:NEM) Shares Bought by Xponance Inc.

Xponance Inc. grew its stake in shares of Newmont Co. (NYSE:NEM) by 29.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 213,221 shares of the basic materials company’s stock after purchasing an additional 47,966 shares during the quarter. Xponance Inc.’s holdings in Newmont were worth $8,825,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NEM. Compass Wealth Management LLC acquired a new position in shares of Newmont in the 4th quarter valued at about $25,000. TFC Financial Management Inc. boosted its holdings in shares of Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after buying an additional 499 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in shares of Newmont in the 3rd quarter valued at about $26,000. Life Planning Partners Inc acquired a new position in shares of Newmont in the 4th quarter valued at about $26,000. Finally, OFI Invest Asset Management acquired a new position in shares of Newmont in the 3rd quarter valued at about $30,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 0.3 %

NEM traded up $0.10 on Friday, reaching $38.65. 964,117 shares of the company traded hands, compared to its average volume of 13,402,647. The stock’s 50 day moving average price is $34.70 and its 200-day moving average price is $36.81. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.18. The company has a market cap of $44.56 billion, a price-to-earnings ratio of -16.20, a PEG ratio of 1.02 and a beta of 0.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. Newmont’s revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. On average, sell-side analysts expect that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Analysts Set New Price Targets

Several research analysts have recently commented on NEM shares. BMO Capital Markets decreased their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Royal Bank of Canada cut 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 report on Thursday, February 8th. Scotiabank cut their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Finally, TD Securities cut their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Hold” and a consensus price target of $51.97.

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.