Newmont Co. (NYSE:NEM) Position Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in Newmont Co. (NYSE:NEM) by 5.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,491,206 shares of the basic materials company’s stock after acquiring an additional 71,049 shares during the period. Victory Capital Management Inc.’s holdings in Newmont were worth $61,721,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Life Planning Partners Inc bought a new position in Newmont during the 4th quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in Newmont during the 3rd quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in shares of Newmont in the 4th quarter valued at about $34,000. OFI Invest Asset Management bought a new stake in shares of Newmont during the 3rd quarter valued at about $30,000. Finally, Operose Advisors LLC lifted its holdings in Newmont by 156.8% in the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 635 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Citigroup cut their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. TD Securities raised their target price on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Jefferies Financial Group assumed coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.35.

Newmont Price Performance

Shares of NYSE:NEM opened at $40.66 on Friday. The firm’s 50 day moving average is $36.40 and its two-hundred day moving average is $37.02. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The firm has a market capitalization of $46.89 billion, a P/E ratio of -15.23, a PEG ratio of 0.96 and a beta of 0.48. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Analysts anticipate that Newmont Co. will post 2.32 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Tuesday, June 4th. Newmont’s payout ratio is -37.45%.

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.