Bank Julius Baer & Co. Ltd Zurich Acquires 4,025 Shares of Newmont Co. (NYSE:NEM)

Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Newmont Co. (NYSE:NEM) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 630,374 shares of the basic materials company’s stock after acquiring an additional 4,025 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.08% of Newmont worth $26,091,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NEM. Vanguard Group Inc. increased its holdings in Newmont by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after buying an additional 12,360,775 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Newmont by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after buying an additional 483,377 shares during the period. Northern Trust Corp increased its holdings in Newmont by 5.7% in the 3rd quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after buying an additional 554,513 shares during the period. Invesco Ltd. increased its holdings in Newmont by 5.8% in the 3rd quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock valued at $289,232,000 after buying an additional 428,537 shares during the period. Finally, Legal & General Group Plc increased its holdings in Newmont by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company’s stock valued at $239,205,000 after buying an additional 34,651 shares during the period. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NEM shares. Citigroup reduced their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. TD Securities lifted their target price on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday. Jefferies Financial Group began coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Finally, StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.75.

Newmont Stock Down 1.6 %

Shares of NEM stock traded down $0.68 on Friday, hitting $42.73. The stock had a trading volume of 14,214,859 shares, compared to its average volume of 13,801,380. The business has a 50 day moving average of $35.35 and a 200 day moving average of $36.92. The stock has a market cap of $49.26 billion, a price-to-earnings ratio of -18.02, a price-to-earnings-growth ratio of 1.07 and a beta of 0.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, analysts expect that Newmont Co. will post 1.99 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.34%. Newmont’s payout ratio is currently -42.02%.

Newmont Company 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.