Cerity Partners LLC Boosts Holdings in Newmont Co. (NYSE:NEM)

Cerity Partners LLC boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 230.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,091 shares of the basic materials company’s stock after buying an additional 14,700 shares during the quarter. Cerity Partners LLC’s holdings in Newmont were worth $873,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NEM. Vanguard Group Inc. increased its position in shares of Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after acquiring an additional 12,360,775 shares during the period. Ameriprise Financial Inc. raised its position in Newmont by 61.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock valued at $196,706,000 after purchasing an additional 2,019,591 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Newmont by 3,044.9% in the 4th quarter. International Assets Investment Management LLC now owns 612,003 shares of the basic materials company’s stock valued at $25,331,000 after buying an additional 592,543 shares during the period. Mirabella Financial Services LLP grew its position in shares of Newmont by 5,976.0% during the third quarter. Mirabella Financial Services LLP now owns 565,070 shares of the basic materials company’s stock worth $20,879,000 after buying an additional 555,770 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Newmont by 5.7% during the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock worth $381,203,000 after buying an additional 554,513 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEM has been the subject of several analyst reports. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Scotiabank dropped their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective for the company. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, BMO Capital Markets decreased their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.89.

Newmont Stock Performance

Shares of Newmont stock opened at $37.48 on Tuesday. The firm’s fifty day simple moving average is $34.90 and its 200-day simple moving average is $36.86. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The stock has a market capitalization of $43.21 billion, a price-to-earnings ratio of -15.75, a PEG ratio of 1.05 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 (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, equities analysts forecast that Newmont Co. will post 1.98 earnings per share for the current year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.67%. Newmont’s payout ratio is -42.02%.

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.