Newmont Co. (NYSE:NEM) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Newmont Co. (NYSE:NEM) by 48.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 452,422 shares of the basic materials company’s stock after acquiring an additional 148,131 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Newmont worth $18,726,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in Newmont by 27.5% during 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 acquiring an additional 36,645 shares during the period. Janney Montgomery Scott LLC lifted its position in Newmont by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after acquiring an additional 26,599 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 worth $32,926,000 after acquiring an additional 94,692 shares during the period. Pacer Advisors Inc. lifted its position in Newmont by 70.5% during the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock worth $3,535,000 after acquiring an additional 35,303 shares during the period. Finally, SG Americas Securities LLC lifted its position in 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 worth $2,635,000 after acquiring an additional 60,261 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.0 %

Shares of NYSE NEM opened at $38.55 on Friday. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of -16.20, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. The company’s 50-day simple moving average is $34.70 and its 200-day simple moving average is $36.81. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.18.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities analysts predict that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Newmont’s payout ratio is currently -42.02%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NEM. Citigroup lowered their target price on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Jefferies Financial Group began coverage on shares of Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Hold” and an average price target of $51.97.

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.