Everence Capital Management Inc. Grows Stock Holdings in Newmont Co. (NYSE:NEM)

Everence Capital Management Inc. increased its stake in Newmont Co. (NYSE:NEM) by 90.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,530 shares of the basic materials company’s stock after buying an additional 14,460 shares during the period. Everence Capital Management Inc.’s holdings in Newmont were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI bought a new position in shares of Newmont during the third quarter valued at $98,011,000. FMR LLC increased its stake in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after buying an additional 1,096,905 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Newmont by 29.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after buying an additional 1,074,623 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Newmont by 6,387.0% during the third quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after buying an additional 964,815 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NEM. Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $59.00 to $55.00 in a research report on Friday, October 25th. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Newmont Trading Down 0.7 %

Newmont stock opened at $38.11 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a market capitalization of $43.39 billion, a price-to-earnings ratio of -25.07, a P/E/G ratio of 0.35 and a beta of 0.49. The firm has a 50 day moving average of $41.76 and a 200 day moving average of $47.01.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. As a group, research analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

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.