Parallel Advisors LLC Acquires 1,498 Shares of Newmont Co. (NYSE:NEM)

Parallel Advisors LLC boosted its holdings in shares of Newmont Co. (NYSE:NEMFree Report) by 24.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,671 shares of the basic materials company’s stock after acquiring an additional 1,498 shares during the period. Parallel Advisors LLC’s holdings in Newmont were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NEM. Van ECK Associates Corp lifted its position in shares of Newmont by 57.2% during the fourth quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock valued at $2,122,913,000 after buying an additional 18,664,614 shares during the last quarter. Norges Bank purchased a new stake in shares of Newmont during the fourth quarter valued at about $604,516,000. Vanguard Group Inc. raised its position in shares of Newmont by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after purchasing an additional 12,360,775 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Newmont by 44.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock valued at $1,019,813,000 after purchasing an additional 7,635,657 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Newmont by 29.9% in the 4th quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock valued at $983,267,000 after purchasing an additional 5,475,155 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Newmont stock opened at $41.94 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $45.92. The company has a fifty day simple moving average of $40.10 and a 200-day simple moving average of $37.71. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEMGet Free Report) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts predict that Newmont Co. will post 2.37 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s payout ratio is -37.45%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEM. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. BMO Capital Markets reduced their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Royal Bank of Canada reduced their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, TD Securities raised their price target on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.36.

View Our Latest Analysis on NEM

Newmont Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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