Palouse Capital Management Inc. Has $3.02 Million Stake in Newmont Co. (NYSE:NEM)

Palouse Capital Management Inc. trimmed its holdings in Newmont Co. (NYSE:NEM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,852 shares of the basic materials company’s stock after selling 2,228 shares during the period. Newmont accounts for 2.1% of Palouse Capital Management Inc.’s holdings, making the stock its 15th largest position. Palouse Capital Management Inc.’s holdings in Newmont were worth $3,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in shares of Newmont by 27.5% in the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after buying an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after buying an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Newmont by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after acquiring an additional 94,692 shares during the last quarter. KLCM Advisors Inc. increased its stake in Newmont by 4.3% in the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after acquiring an additional 17,791 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Newmont by 70.5% in the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after acquiring an additional 35,303 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 1.2 %

Shares of Newmont stock traded up $0.48 during trading on Friday, hitting $39.03. The company’s stock had a trading volume of 10,435,742 shares, compared to its average volume of 13,529,912. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The stock has a market cap of $44.99 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. The stock has a 50-day moving average price of $34.82 and a two-hundred day moving average price of $36.83.

Newmont (NYSE:NEM) last issued 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 positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on NEM. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Scotiabank decreased their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. TD Securities decreased their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. BMO Capital Markets decreased their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Royal Bank of Canada decreased their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.