MONECO Advisors LLC Increases Position in Newmont Co. (NYSE:NEM)

MONECO Advisors LLC increased its stake in Newmont Co. (NYSE:NEM) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,471 shares of the basic materials company’s stock after purchasing an additional 1,317 shares during the quarter. MONECO Advisors LLC’s holdings in Newmont were worth $682,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NEM. Vanguard Group Inc. increased its holdings in Newmont by 43.8% during the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock valued at $4,915,059,000 after acquiring an additional 36,170,995 shares in the last quarter. Van ECK Associates Corp increased its holdings in Newmont by 57.2% during the 4th 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 acquiring an additional 18,664,614 shares in the last quarter. Norges Bank purchased a new position in Newmont during the 4th quarter valued at about $604,516,000. Charles Schwab Investment Management Inc. increased its holdings in Newmont by 44.9% during 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 acquiring an additional 7,635,657 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Newmont by 29.9% during 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 acquiring an additional 5,475,155 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.2 %

NYSE NEM opened at $40.89 on Tuesday. Newmont Co. has a one year low of $29.42 and a one year high of $45.92. The company’s 50 day moving average price is $41.09 and its 200 day moving average price is $37.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for 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%. Newmont’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, equities research analysts forecast that Newmont Co. will post 2.42 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. Newmont’s dividend payout ratio is currently -37.45%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NEM. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup decreased their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. BMO Capital Markets decreased their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group started coverage on shares of Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.07.

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.