Sapient Capital LLC Acquires New Shares in Newmont Co. (NYSE:NEM)

Sapient Capital LLC bought a new position in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 214,659 shares of the basic materials company’s stock, valued at approximately $8,885,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. acquired a new position in Newmont during the third quarter worth $26,000. Life Planning Partners Inc acquired a new position in Newmont during the 4th quarter worth about $26,000. OFI Invest Asset Management purchased a new position in Newmont during the 3rd quarter valued at about $30,000. CVA Family Office LLC purchased a new position in Newmont during the 4th quarter valued at about $34,000. Finally, Operose Advisors LLC grew its position in Newmont by 156.8% in 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 in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several recent research reports. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada decreased their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Scotiabank cut their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Jefferies Financial Group began coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target for the company. Finally, StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.35.

Newmont Stock Performance

Shares of NEM stock traded down $0.39 during mid-day trading on Friday, hitting $40.66. 7,306,324 shares of the stock were exchanged, compared to its average volume of 14,411,746. The stock’s fifty day simple moving average is $36.40 and its two-hundred day simple moving average is $37.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of -15.23, a P/E/G ratio of 0.96 and a beta of 0.48.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, analysts forecast that Newmont Co. will post 2.32 EPS for the current year.

Newmont Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

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.