Twin Capital Management Inc. Has $410,000 Holdings in Newmont Co. (NYSE:NEM)

Twin Capital Management Inc. trimmed its stake in Newmont Co. (NYSE:NEM) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,905 shares of the basic materials company’s stock after selling 309 shares during the period. Twin Capital Management Inc.’s holdings in Newmont were worth $410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new stake in Newmont in the 4th quarter worth $25,000. TFC Financial Management Inc. raised its stake in shares of Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Newmont in the third quarter worth about $26,000. Life Planning Partners Inc bought a new position in shares of Newmont in the fourth quarter worth about $26,000. Finally, OFI Invest Asset Management bought a new position in shares of Newmont in the third quarter worth about $30,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $39.03 on Friday. The firm’s 50 day moving average price is $34.82 and its two-hundred day moving average price is $36.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market cap of $44.99 billion, a P/E ratio of -16.40, a PEG ratio of 1.02 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. On average, analysts forecast that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

Analyst Ratings Changes

A number of brokerages have weighed in on NEM. BMO Capital Markets dropped their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. TD Securities decreased 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. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Jefferies Financial Group assumed coverage on shares of Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective for the company. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.