Yousif Capital Management LLC Acquires 42,004 Shares of Newmont Co. (NYSE:NEM)

Yousif Capital Management LLC lifted its position in Newmont Co. (NYSE:NEM) by 33.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 167,806 shares of the basic materials company’s stock after buying an additional 42,004 shares during the period. Yousif Capital Management LLC’s holdings in Newmont were worth $6,945,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in shares of Newmont in the 4th quarter valued at $786,000. GAMMA Investing LLC bought a new stake in shares of Newmont in the 4th quarter valued at $275,000. Parkside Financial Bank & Trust increased its position in shares of Newmont by 482.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 12,611 shares of the basic materials company’s stock valued at $522,000 after buying an additional 10,446 shares in the last quarter. Lesa Sroufe & Co increased its position in shares of Newmont by 31.4% in the 4th quarter. Lesa Sroufe & Co now owns 82,668 shares of the basic materials company’s stock valued at $3,422,000 after buying an additional 19,731 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Newmont by 701.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 120,022 shares of the basic materials company’s stock valued at $4,968,000 after buying an additional 105,038 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. TD Securities reduced their target price on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. 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 research note on Thursday, April 4th. Jefferies Financial Group initiated coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. BMO Capital Markets reduced their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Hold” and a consensus target price of $50.89.

Newmont Stock Up 4.2 %

Newmont stock opened at $40.23 on Thursday. The stock has a market cap of $46.38 billion, a P/E ratio of -16.22, a P/E/G ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The company’s 50-day moving average price is $35.14 and its two-hundred day moving average price is $36.87.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.32 by $0.23. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, analysts expect that Newmont Co. will post 1.97 EPS for the current year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. Newmont’s dividend payout ratio is presently -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.