Oppenheimer & Close LLC Acquires 23,664 Shares of Newmont Co. (NYSE:NEM)

Oppenheimer & Close LLC increased its holdings in shares of Newmont Co. (NYSE:NEMFree Report) by 66.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,485 shares of the basic materials company’s stock after acquiring an additional 23,664 shares during the period. Newmont makes up 2.2% of Oppenheimer & Close LLC’s investment portfolio, making the stock its 17th largest holding. Oppenheimer & Close LLC’s holdings in Newmont were worth $2,462,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Life Planning Partners Inc bought a new position in shares of Newmont in the fourth quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in shares of Newmont in the third quarter worth approximately $30,000. CVA Family Office LLC bought a new position in shares of Newmont in the fourth quarter worth approximately $34,000. Operose Advisors LLC lifted its position in Newmont by 156.8% during the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 635 shares during the period. Finally, Advantage Trust Co bought a new position in Newmont during the fourth quarter valued at approximately $41,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM stock traded up $0.90 on Friday, hitting $43.74. 10,168,802 shares of the stock traded hands, compared to its average volume of 11,192,171. The firm has a market cap of $50.44 billion, a price-to-earnings ratio of -16.38, a PEG ratio of 1.00 and a beta of 0.48. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The firm has a 50 day simple moving average of $38.46 and a two-hundred day simple moving average of $37.28. 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:NEMGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company’s revenue was up 50.2% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. As a group, equities research analysts predict that Newmont Co. will post 2.37 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. Newmont’s dividend payout ratio is currently -37.45%.

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered their price objective on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Jefferies Financial Group initiated coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Scotiabank lowered 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 report on Wednesday, February 28th. Finally, Citigroup reduced their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.11.

Read Our Latest Report on NEM

Newmont 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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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