Bank Julius Baer & Co. Ltd Zurich Grows Stock Position in Newmont Co. (NYSE:NEM)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Newmont Co. (NYSE:NEM) by 0.6% in the fourth quarter, HoldingsChannel reports. The fund owned 630,374 shares of the basic materials company’s stock after acquiring an additional 4,025 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Newmont were worth $26,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Grey Street Capital LLC grew its stake in shares of Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after acquiring an additional 289 shares during the period. Reitz Capital Advisors LLC boosted its stake in Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after purchasing an additional 298 shares during the period. Antonetti Capital Management LLC boosted its stake in Newmont by 30.0% in the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 300 shares during the period. Sigma Planning Corp boosted its stake in Newmont by 4.6% in the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 309 shares during the period. Finally, Hendley & Co. Inc. boosted its stake in Newmont by 0.6% in the 3rd quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock worth $1,920,000 after purchasing an additional 324 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. TD Securities increased their target price on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. BMO Capital Markets lowered their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Scotiabank lowered their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.75.

Newmont Trading Down 1.6 %

NEM stock traded down $0.68 during midday trading on Friday, reaching $42.73. The company’s stock had a trading volume of 14,214,859 shares, compared to its average volume of 13,801,380. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a fifty day simple moving average of $35.35 and a two-hundred day simple moving average of $36.92. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The firm has a market capitalization of $49.26 billion, a price-to-earnings ratio of -18.02, a PEG ratio of 1.07 and a beta of 0.50.

Newmont (NYSE:NEM) last posted its quarterly 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. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the company earned $0.40 EPS. The business’s revenue was up 50.2% compared to the same quarter last year. On average, equities research analysts predict that Newmont Co. will post 1.99 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is currently -42.02%.

About Newmont

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.