Oxford Asset Management LLP Makes New Investment in Newmont Co. (NYSE:NEM)

Oxford Asset Management LLP purchased a new stake in shares of Newmont Co. (NYSE:NEMFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,234 shares of the basic materials company’s stock, valued at approximately $258,000.

A number of other hedge funds have also recently modified their holdings of NEM. Life Planning Partners Inc acquired a new stake in shares of Newmont during the 4th quarter worth about $26,000. Manchester Capital Management LLC lifted its stake in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of Newmont in the 4th quarter valued at $34,000. Operose Advisors LLC increased its position in shares of Newmont by 156.8% during the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 635 shares in the last quarter. Finally, Advantage Trust Co purchased a new stake in shares of Newmont in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Citigroup decreased their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Scotiabank upped their price target on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of “Hold” and an average target price of $48.36.

Read Our Latest Stock Analysis on NEM

Newmont Stock Up 1.6 %

Shares of NEM stock traded up $0.66 during mid-day trading on Friday, reaching $41.89. 3,339,991 shares of the company were exchanged, compared to its average volume of 12,764,045. 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 business’s 50 day simple moving average is $39.15 and its 200 day simple moving average is $37.42. The company has a market capitalization of $48.31 billion, a P/E ratio of -15.69, a P/E/G ratio of 0.35 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:NEMGet Free Report) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company’s revenue was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. Research analysts predict that Newmont Co. will post 2.37 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.39%. Newmont’s payout ratio is -37.45%.

Newmont Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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