Newmont Co. (NYSE:NEM) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB raised its position in Newmont Co. (NYSE:NEM) by 7.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 473,322 shares of the basic materials company’s stock after buying an additional 34,634 shares during the quarter. AMF Tjanstepension AB’s holdings in Newmont were worth $16,982,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Newmont by 43.8% in 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 purchasing an additional 36,170,995 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Newmont by 57.2% in 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 purchasing an additional 18,664,614 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Newmont by 44.9% in the fourth 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 buying an additional 7,635,657 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Newmont by 29.9% during the fourth quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock worth $983,267,000 after purchasing an additional 5,475,155 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Newmont in the 4th quarter valued at about $604,516,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 0.1 %

Shares of NYSE NEM opened at $41.87 on Friday. The stock has a market capitalization of $48.28 billion, a P/E ratio of -15.68, a P/E/G ratio of 0.35 and a beta of 0.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $45.92. The company has a 50-day moving average price of $41.67 and a 200-day moving average price of $38.11.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. On average, equities research analysts forecast that Newmont Co. will post 2.48 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Tuesday, June 4th. Newmont’s payout ratio is -37.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NEM. BNP Paribas raised Newmont to a “strong-buy” rating in a research note on Friday, June 21st. TD Securities raised their price objective on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, April 26th. BMO Capital Markets dropped their target price on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. Finally, Scotiabank raised their price objective on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $49.13.

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.