GAMMA Investing LLC Has $416,000 Stake in Newmont Co. (NYSE:NEM)

GAMMA Investing LLC raised its stake in shares of Newmont Co. (NYSE:NEM) by 74.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,594 shares of the basic materials company’s stock after purchasing an additional 4,946 shares during the quarter. GAMMA Investing LLC’s holdings in Newmont were worth $416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Life Planning Partners Inc bought a new position in shares of Newmont during the fourth quarter worth $26,000. Manchester Capital Management LLC lifted its holdings in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares in the last quarter. CVA Family Office LLC bought a new position in Newmont during the fourth quarter worth about $34,000. Advantage Trust Co bought a new stake in shares of Newmont in the fourth quarter worth about $41,000. Finally, Operose Advisors LLC raised its position in shares of Newmont by 156.8% during the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 635 shares during the period. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. BMO Capital Markets dropped their price objective on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $50.00 in a research note on Monday. Finally, Scotiabank lifted their price target on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.07.

Newmont Stock Up 2.2 %

NEM stock traded up $0.88 during mid-day trading on Wednesday, reaching $41.79. The company had a trading volume of 7,185,153 shares, compared to its average volume of 7,291,411. The company has a market capitalization of $48.19 billion, a price-to-earnings ratio of -15.65, a PEG ratio of 0.35 and a beta of 0.52. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The stock has a 50 day simple moving average of $41.13 and a two-hundred day simple moving average of $37.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business earned $0.40 earnings per share. The firm’s revenue was up 50.2% on a year-over-year basis. As a group, equities analysts predict that Newmont Co. will post 2.42 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.39%. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

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.