TCW Group Inc. Acquires 4,654 Shares of Newmont Co. (NYSE:NEM)

by · The Markets Daily

TCW Group Inc. grew its position in Newmont Co. (NYSE:NEM – Free Report) by 35.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,630 shares of the basic materials company’s stock after buying an additional 4,654 shares during the period. TCW Group Inc.’s holdings in Newmont were worth $735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. NBC Securities Inc. acquired a new position in Newmont in the 3rd quarter worth $100,000. Assenagon Asset Management S.A. boosted its stake in shares of Newmont by 944.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 459,839 shares of the basic materials company’s stock worth $16,991,000 after buying an additional 415,798 shares during the last quarter. PFG Investments LLC boosted its stake in shares of Newmont by 3.5% during the 3rd quarter. PFG Investments LLC now owns 24,152 shares of the basic materials company’s stock worth $892,000 after buying an additional 809 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Newmont by 4.6% during the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after buying an additional 309 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Newmont by 8.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 784,385 shares of the basic materials company’s stock valued at $28,983,000 after purchasing an additional 62,148 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NEM shares. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. BMO Capital Markets lowered their price target 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. Sanford C. Bernstein lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. Finally, Scotiabank increased their price target on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has an average rating of “Hold” and an average price target of $48.36.

Read Our Latest Analysis on NEM

Newmont Price Performance

Shares of NYSE NEM traded up $0.75 during trading hours on Friday, hitting $41.98. 6,232,428 shares of the stock were exchanged, compared to its average volume of 9,133,935. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $45.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The company has a market cap of $48.41 billion, a PE ratio of -15.72, a price-to-earnings-growth ratio of 0.35 and a beta of 0.48. The company’s fifty day simple moving average is $39.31 and its two-hundred day simple moving average is $37.45.

Newmont (NYSE:NEM – Get Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 50.2% on a year-over-year basis. On average, sell-side analysts predict that Newmont Co. will post 2.37 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. Newmont’s dividend payout ratio is currently -37.45%.

Newmont Company Profile

(Free Report)

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.

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