Polianta Ltd Invests $1.21 Million in Newmont Co. (NYSE:NEM)

Polianta Ltd acquired a new stake in shares of Newmont Co. (NYSE:NEM) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 33,900 shares of the basic materials company’s stock, valued at approximately $1,214,000. Newmont makes up 0.6% of Polianta Ltd’s holdings, making the stock its 26th biggest position.

Other large investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in Newmont during the fourth quarter valued at about $26,000. Manchester Capital Management LLC boosted its position in Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares during the last quarter. CVA Family Office LLC acquired a new position in Newmont in the 4th quarter worth approximately $34,000. Rise Advisors LLC raised its position in Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after buying an additional 973 shares during the last quarter. Finally, Operose Advisors LLC lifted its stake in Newmont by 156.8% during the 3rd quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 635 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on NEM. Citigroup cut their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Scotiabank lifted their price objective on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein lowered their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.07.

Newmont Price Performance

NYSE:NEM traded up $1.02 during trading hours on Thursday, reaching $42.81. 8,614,115 shares of the company were exchanged, compared to its average volume of 12,051,722. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The firm has a market cap of $49.37 billion, a PE ratio of -16.03, a price-to-earnings-growth ratio of 0.36 and a beta of 0.52. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92. The stock’s 50-day moving average is $41.26 and its 200-day moving average is $38.01.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, sell-side analysts anticipate that Newmont Co. will post 2.42 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is presently -37.45%.

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.