Daiwa Securities Group Inc. Buys 46,780 Shares of Newmont Co. (NYSE:NEM)

Daiwa Securities Group Inc. increased its position in shares of Newmont Co. (NYSE:NEM) by 55.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,382 shares of the basic materials company’s stock after buying an additional 46,780 shares during the period. Daiwa Securities Group Inc.’s holdings in Newmont were worth $5,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Compass Wealth Management LLC bought a new stake in Newmont during the 4th quarter valued at approximately $25,000. TFC Financial Management Inc. increased its position in Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Newmont in the 3rd quarter worth $26,000. Life Planning Partners Inc acquired a new position in shares of Newmont during the fourth quarter valued at about $26,000. Finally, OFI Invest Asset Management acquired a new stake in Newmont during the third quarter worth about $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $39.03 on Friday. The stock has a market cap of $44.99 billion, a price-to-earnings ratio of -16.40, a P/E/G ratio of 1.02 and a beta of 0.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $34.82 and its 200 day simple moving average is $36.83.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, research analysts anticipate that Newmont Co. will post 2.01 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

Analyst Ratings Changes

NEM has been the topic of several recent research reports. Scotiabank decreased their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Citigroup cut their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Finally, BMO Capital Markets dropped 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.97.

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.