Flputnam Investment Management Co. Acquires Shares of 5,414 Newmont Co. (NYSE:NEM)

Flputnam Investment Management Co. bought a new position in Newmont Co. (NYSE:NEM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 5,414 shares of the basic materials company’s stock, valued at approximately $224,000.

A number of other large investors have also recently modified their holdings of NEM. Vanguard Group Inc. lifted its holdings in Newmont by 17.6% in the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after buying an additional 12,360,775 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Newmont by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after purchasing an additional 483,377 shares during the period. Northern Trust Corp boosted its position in shares of Newmont by 5.7% during the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after purchasing an additional 554,513 shares in the last quarter. Morgan Stanley grew its stake in Newmont by 1.0% in the fourth quarter. Morgan Stanley now owns 9,135,415 shares of the basic materials company’s stock worth $431,192,000 after purchasing an additional 94,108 shares during the period. Finally, Invesco Ltd. lifted its position in Newmont by 5.8% during the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock valued at $289,232,000 after buying an additional 428,537 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $38.55 on Friday. The business has a 50-day simple moving average of $34.70 and a two-hundred day simple moving average of $36.81. 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 firm has a market cap of $44.44 billion, a price-to-earnings ratio of -16.20, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, analysts expect that Newmont Co. will post 2.01 earnings per share for the current year.

Newmont Cuts Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target for the company. BMO Capital Markets lowered their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.97.

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.