6,055 Shares in Newmont Co. (NYSE:NEM) Acquired by Graypoint LLC

Graypoint LLC purchased a new stake in Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,055 shares of the basic materials company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Newmont by 17.6% in the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after purchasing an additional 12,360,775 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Newmont by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after purchasing an additional 483,377 shares in the last quarter. Northern Trust Corp boosted its holdings in Newmont by 5.7% in the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after purchasing an additional 554,513 shares in the last quarter. Morgan Stanley boosted its holdings in Newmont by 1.0% in the fourth quarter. Morgan Stanley now owns 9,135,415 shares of the basic materials company’s stock valued at $431,192,000 after purchasing an additional 94,108 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Newmont by 5.8% in the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock valued at $289,232,000 after purchasing an additional 428,537 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Securities decreased their price objective on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Scotiabank decreased their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, Argus downgraded Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.97.

Newmont Trading Down 0.5 %

NYSE:NEM opened at $38.44 on Tuesday. The stock has a fifty day moving average price of $34.41 and a two-hundred day moving average price of $36.78. The stock has a market capitalization of $44.31 billion, a price-to-earnings 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 quick ratio of 0.98 and a current ratio of 1.25. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, sell-side analysts anticipate that Newmont Co. will post 1.97 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, March 4th. Newmont’s payout ratio is -42.02%.

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.