Bleakley Financial Group LLC Acquires 2,766 Shares of Newmont Co. (NYSE:NEM)

Bleakley Financial Group LLC raised its holdings in Newmont Co. (NYSE:NEM) by 30.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,712 shares of the basic materials company’s stock after acquiring an additional 2,766 shares during the period. Bleakley Financial Group LLC’s holdings in Newmont were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Parkside Financial Bank & Trust grew its holdings in shares of Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 278 shares during the last quarter. S.A. Mason LLC grew its holdings in shares of Newmont by 15.1% during the third quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock worth $80,000 after purchasing an additional 285 shares during the last quarter. Grey Street Capital LLC grew its holdings in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after purchasing an additional 289 shares during the last quarter. Reitz Capital Advisors LLC grew its holdings in shares of Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after purchasing an additional 298 shares during the last quarter. Finally, Antonetti Capital Management LLC grew its holdings in shares of Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of several research reports. Citigroup reduced their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Scotiabank reduced 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. Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. TD Securities reduced their target price on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.97.

Newmont Stock Down 1.1 %

Shares of NYSE:NEM opened at $38.64 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $51.46. The stock’s 50 day moving average is $34.30 and its 200-day moving average is $36.77.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the company earned $0.44 earnings per share. Newmont’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, equities research analysts predict that Newmont Co. will post 1.97 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.59%. Newmont’s dividend payout ratio (DPR) 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.