West Family Investments Inc. Grows Stake in Newmont Co. (NYSE:NEM)

West Family Investments Inc. increased its position in shares of Newmont Co. (NYSE:NEM) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 153,755 shares of the basic materials company’s stock after purchasing an additional 1,551 shares during the period. Newmont makes up about 2.2% of West Family Investments Inc.’s portfolio, making the stock its 11th biggest position. West Family Investments Inc.’s holdings in Newmont were worth $6,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Grey Street Capital LLC raised its holdings in shares of Newmont by 0.4% in the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after purchasing an additional 289 shares in the last quarter. Reitz Capital Advisors LLC raised its position in shares of Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares during the last quarter. Antonetti Capital Management LLC increased its stake in Newmont by 30.0% during the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 300 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Newmont by 4.6% in the third quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after buying an additional 309 shares during the last quarter. Finally, Hendley & Co. Inc. raised its holdings in shares of Newmont by 0.6% in the third quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock worth $1,920,000 after buying an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. TD Securities lifted their price objective on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target for the company. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Citigroup lowered their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.61.

Newmont Stock Up 0.7 %

NEM traded up $0.28 during trading hours on Thursday, hitting $40.86. 3,892,290 shares of the company’s stock were exchanged, compared to its average volume of 13,650,607. 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 Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The firm has a market cap of $47.12 billion, a P/E ratio of -15.32, a price-to-earnings-growth ratio of 1.04 and a beta of 0.48. The firm has a 50 day moving average of $36.00 and a 200 day moving average of $36.99.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $3.66 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. Analysts predict that Newmont Co. will post 2.16 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders 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 2.45%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -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.