Allspring Global Investments Holdings LLC Has $15.97 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Allspring Global Investments Holdings LLC lifted its stake in shares of Newmont Co. (NYSE:NEM) by 68.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 385,889 shares of the basic materials company’s stock after buying an additional 156,188 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Newmont were worth $15,972,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NEM. Compass Wealth Management LLC bought a new position in Newmont during the fourth quarter worth about $25,000. TFC Financial Management Inc. increased its position in Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Newmont during the third quarter worth about $26,000. Life Planning Partners Inc bought a new position in Newmont during the fourth quarter worth about $26,000. Finally, Bartlett & Co. LLC bought a new position in Newmont during the third quarter worth about $28,000. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NEM. BMO Capital Markets lowered their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Scotiabank decreased their target price on shares of 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 decreased their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Jefferies Financial Group initiated coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.97.

Newmont Stock Down 1.1 %

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

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

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. Newmont’s dividend payout ratio (DPR) is currently -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.