Stevens Capital Management LP Sells 3,999 Shares of Newmont Co. (NYSE:NEM)

Stevens Capital Management LP decreased its position in shares of Newmont Co. (NYSE:NEM) by 31.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,643 shares of the basic materials company’s stock after selling 3,999 shares during the quarter. Stevens Capital Management LP’s holdings in Newmont were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Newmont by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after acquiring an additional 12,360,775 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Newmont by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after purchasing an additional 483,377 shares during the last quarter. Northern Trust Corp increased its stake in Newmont by 5.7% in the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after acquiring an additional 554,513 shares during the last quarter. Invesco Ltd. increased its stake in shares of Newmont by 5.8% during the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock valued at $289,232,000 after purchasing an additional 428,537 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Newmont by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company’s stock worth $239,205,000 after acquiring an additional 34,651 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Jefferies Financial Group assumed coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. StockNews.com lowered Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, BMO Capital Markets cut their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.75.

Newmont Trading Down 1.6 %

Shares of NEM traded down $0.68 during trading hours on Friday, reaching $42.73. 14,214,859 shares of the company traded hands, compared to its average volume of 13,801,380. The firm has a market cap of $49.26 billion, a price-to-earnings ratio of -18.02, a PEG ratio of 1.07 and a beta of 0.50. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average price is $35.35 and its 200 day moving average price is $36.92. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18.

Newmont (NYSE:NEM) last posted its 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. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. Sell-side analysts forecast that Newmont Co. will post 1.99 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. Newmont’s dividend payout ratio is -42.02%.

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.