Keel Point LLC Buys 2,010 Shares of Newmont Co. (NYSE:NEM)

Keel Point LLC lifted its stake in shares of Newmont Co. (NYSE:NEM) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,129 shares of the basic materials company’s stock after acquiring an additional 2,010 shares during the quarter. Keel Point LLC’s holdings in Newmont were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in Newmont by 27.5% in the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after purchasing an additional 36,645 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Newmont by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after acquiring an additional 26,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Newmont by 13.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after acquiring an additional 94,692 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Newmont by 1,770.8% during the 4th quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock valued at $2,635,000 after acquiring an additional 60,261 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Newmont by 70.5% during the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after acquiring an additional 35,303 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Shares of NEM stock opened at $37.85 on Tuesday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18. The stock’s 50-day moving average is $34.41 and its 200 day moving average is $36.78. The company has a market cap of $43.63 billion, a P/E ratio of -16.15, a PEG ratio of 1.06 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 issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the business earned $0.44 EPS. Newmont’s revenue for the quarter was up 23.7% compared to the same quarter last year. Research analysts predict that Newmont Co. will post 1.97 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.64%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent research reports. Citigroup decreased their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Scotiabank reduced their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.97.

Newmont 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.