Aubrey Capital Management Ltd Invests $636,000 in Newmont Co. (NYSE:NEM)

Aubrey Capital Management Ltd bought a new stake in Newmont Co. (NYSE:NEM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,238 shares of the basic materials company’s stock, valued at approximately $636,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Newmont by 17.6% during the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after purchasing an additional 12,360,775 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Newmont by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock worth $628,278,000 after acquiring an additional 483,377 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Newmont by 5.7% during the 3rd quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock worth $381,203,000 after acquiring an additional 554,513 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Newmont by 5.8% during the 3rd quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock worth $289,232,000 after acquiring an additional 428,537 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Newmont by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company’s stock worth $239,205,000 after acquiring an additional 34,651 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEM has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. Citigroup lowered their target price 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. Scotiabank lowered their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. TD Securities raised their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday. Finally, Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Newmont Stock Down 1.6 %

Shares of NYSE NEM traded down $0.68 during midday trading on Friday, hitting $42.73. 14,689,213 shares of the company’s stock were exchanged, compared to its average volume of 14,308,821. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 0.98. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a market cap of $49.26 billion, a PE ratio of -16.00, a P/E/G ratio of 1.11 and a beta of 0.50. The firm’s fifty day simple moving average is $35.54 and its 200-day simple moving average is $36.95.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the company earned $0.40 EPS. The business’s quarterly revenue was up 50.2% on a year-over-year basis. Research analysts predict that Newmont Co. will post 2.16 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.