Signaturefd LLC Acquires 16,077 Shares of Newmont Co. (NYSE:NEM)

Signaturefd LLC lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 158.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,217 shares of the basic materials company’s stock after acquiring an additional 16,077 shares during the quarter. Signaturefd LLC’s holdings in Newmont were worth $1,085,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NEM. Lindbrook Capital LLC increased its holdings in shares of Newmont by 346.9% in the fourth quarter. Lindbrook Capital LLC now owns 3,647 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 2,831 shares during the last quarter. abrdn plc raised its holdings in Newmont by 35.5% in the 4th quarter. abrdn plc now owns 1,560,154 shares of the basic materials company’s stock valued at $64,575,000 after acquiring an additional 409,168 shares during the period. Kornitzer Capital Management Inc. KS lifted its position in Newmont by 4.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 145,735 shares of the basic materials company’s stock worth $6,032,000 after acquiring an additional 6,602 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Newmont by 5.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 7,788 shares of the basic materials company’s stock worth $322,000 after acquiring an additional 378 shares during the period. Finally, Greenleaf Trust grew its position in shares of Newmont by 24.4% in the fourth quarter. Greenleaf Trust now owns 22,501 shares of the basic materials company’s stock valued at $931,000 after purchasing an additional 4,416 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Down 3.9 %

Shares of NEM opened at $37.48 on Tuesday. The business has a 50-day moving average of $34.90 and a 200-day moving average of $36.86. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. 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 (NYSE:NEM) last issued its quarterly earnings results 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 firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. Equities research analysts anticipate that Newmont Co. will post 1.98 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, March 4th. Newmont’s payout ratio is -42.02%.

Analysts Set New Price Targets

Several analysts recently issued reports on NEM shares. TD Securities reduced their price target on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Royal Bank of Canada lowered their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. BMO Capital Markets dropped their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.89.

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.