The Manufacturers Life Insurance Company Grows Position in Newmont Co. (NYSE:NEM)

The Manufacturers Life Insurance Company boosted its position in Newmont Co. (NYSE:NEMFree Report) by 29.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 932,106 shares of the basic materials company’s stock after purchasing an additional 210,264 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Newmont were worth $38,580,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in shares of Newmont by 27.5% in 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 purchasing an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Newmont by 22.3% in the third 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 last quarter. Principal Financial Group Inc. raised its position in shares of Newmont by 34.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock worth $53,009,000 after purchasing an additional 325,320 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Newmont by 13.5% in 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 purchasing an additional 94,692 shares in the last quarter. Finally, KLCM Advisors Inc. grew its position in Newmont by 4.3% during the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after purchasing an additional 17,791 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 3.4 %

NEM opened at $42.50 on Friday. The firm’s 50 day simple moving average is $40.64 and its two-hundred day simple moving average is $37.84. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $45.92. 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:NEMGet Free Report) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, equities research analysts expect that Newmont Co. will post 2.37 EPS for the current year.

Newmont Announces Dividend

The company 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.35%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is -37.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. 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 initiated coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Finally, StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.36.

Get Our Latest Stock Report on Newmont

About Newmont

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEMFree Report).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.