Prudential PLC Acquires 6,795 Shares of Newmont Co. (NYSE:NEM)

Prudential PLC increased its holdings in shares of Newmont Co. (NYSE:NEMFree Report) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,312 shares of the basic materials company’s stock after purchasing an additional 6,795 shares during the period. Prudential PLC’s holdings in Newmont were worth $1,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEM. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Newmont during the third quarter valued at approximately $597,000. Janney Montgomery Scott LLC boosted its holdings in Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after acquiring an additional 26,599 shares in the last quarter. Pathstone Family Office LLC grew its stake in shares of Newmont by 448.3% during the third quarter. Pathstone Family Office LLC now owns 44,191 shares of the basic materials company’s stock worth $1,634,000 after acquiring an additional 36,131 shares during the last quarter. Huntington National Bank increased its holdings in shares of Newmont by 62.7% during the third quarter. Huntington National Bank now owns 6,589 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 2,540 shares in the last quarter. Finally, Aptus Capital Advisors LLC purchased a new position in shares of Newmont in the 3rd quarter valued at approximately $226,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research analyst reports. Citigroup dropped their target price 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. TD Securities raised their target price on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets lowered their price target on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Jefferies Financial Group initiated coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.36.

Read Our Latest Stock Analysis on NEM

Newmont Stock Down 5.0 %

Shares of NEM opened at $40.36 on Monday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $46.54 billion, a price-to-earnings ratio of -15.12, a PEG ratio of 0.33 and a beta of 0.52. The stock’s 50-day moving average price is $40.73 and its 200-day moving average price is $37.87.

Newmont (NYSE:NEMGet Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, sell-side analysts predict that Newmont Co. will post 2.41 EPS for the current year.

Newmont Announces Dividend

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.48%. Newmont’s dividend payout ratio is currently -37.45%.

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.

Further Reading

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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