Flossbach Von Storch AG Has $43.78 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Flossbach Von Storch AG lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 92.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,057,809 shares of the basic materials company’s stock after selling 13,122,219 shares during the period. Flossbach Von Storch AG’s holdings in Newmont were worth $43,783,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in Newmont by 27.5% during the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after purchasing an additional 36,645 shares during the period. Janney Montgomery Scott LLC grew its stake in Newmont by 22.3% during the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after purchasing an additional 26,599 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Newmont by 13.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after purchasing an additional 94,692 shares during the period. Pacer Advisors Inc. grew its stake in Newmont by 70.5% during the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock worth $3,535,000 after purchasing an additional 35,303 shares during the period. Finally, SG Americas Securities LLC grew its stake in Newmont by 1,770.8% during the fourth quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock worth $2,635,000 after purchasing an additional 60,261 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 1.2 %

Shares of NEM stock traded up $0.45 during trading hours on Wednesday, reaching $38.56. The company had a trading volume of 10,434,070 shares, compared to its average volume of 13,667,738. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. The business has a fifty day simple moving average of $34.59 and a 200-day simple moving average of $36.80. The company has a market cap of $44.45 billion, a price-to-earnings ratio of -16.20, a price-to-earnings-growth ratio of 1.03 and a beta of 0.50.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. On average, research analysts expect that Newmont Co. will post 2.02 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Newmont’s dividend payout ratio (DPR) is currently -42.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NEM shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. BMO Capital Markets reduced their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Argus cut Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Citigroup reduced their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Finally, Scotiabank reduced their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.97.

Newmont 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.