Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in Newmont Co. (NYSE:NEM)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Newmont Co. (NYSE:NEM) by 162.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,214 shares of the basic materials company’s stock after purchasing an additional 1,371 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Newmont were worth $92,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NEM. Compass Wealth Management LLC purchased a new stake in shares of Newmont during the 4th quarter worth approximately $25,000. TFC Financial Management Inc. increased its stake in shares of Newmont by 242.2% during the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Newmont during the 3rd quarter worth approximately $26,000. Life Planning Partners Inc purchased a new stake in shares of Newmont during the 4th quarter worth approximately $26,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Newmont during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $39.03 on Friday. The company’s fifty day moving average is $34.82 and its 200 day moving average is $36.83. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The stock has a market cap of $44.99 billion, a PE ratio of -16.40, a PEG ratio of 1.02 and a beta of 0.50. 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 (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 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 firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. Newmont’s revenue was up 23.7% compared to the same quarter last year. Research analysts anticipate that Newmont Co. will post 2.01 earnings per share for the current 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s payout ratio is -42.02%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NEM. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. TD Securities cut their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Scotiabank cut their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, BMO Capital Markets cut their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.