MUFG Securities EMEA plc Increases Stake in Newmont Co. (NYSE:NEM)

MUFG Securities EMEA plc raised its stake in shares of Newmont Co. (NYSE:NEM) by 48.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,618 shares of the basic materials company’s stock after purchasing an additional 2,798 shares during the period. MUFG Securities EMEA plc’s holdings in Newmont were worth $357,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Newmont during the third quarter worth about $100,000. Assenagon Asset Management S.A. lifted its position in Newmont by 944.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 459,839 shares of the basic materials company’s stock worth $16,991,000 after acquiring an additional 415,798 shares in the last quarter. PFG Investments LLC lifted its position in Newmont by 3.5% during the 3rd quarter. PFG Investments LLC now owns 24,152 shares of the basic materials company’s stock worth $892,000 after acquiring an additional 809 shares in the last quarter. Sigma Planning Corp boosted its holdings in Newmont by 4.6% in the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 309 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Newmont by 8.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 784,385 shares of the basic materials company’s stock valued at $28,983,000 after purchasing an additional 62,148 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NEM shares. TD Securities upped their price objective on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Scotiabank raised their price objective on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, BMO Capital Markets decreased their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.36.

Newmont Price Performance

Shares of NYSE:NEM traded up $0.75 during trading on Friday, reaching $41.98. The company had a trading volume of 6,232,428 shares, compared to its average volume of 9,133,935. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92. 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 firm has a market capitalization of $48.41 billion, a PE ratio of -15.72, a price-to-earnings-growth ratio of 0.35 and a beta of 0.48. The firm’s fifty day moving average is $39.31 and its 200 day moving average is $37.45.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company 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 company’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. On average, equities analysts forecast that Newmont Co. will post 2.37 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.38%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.