Amalgamated Bank Boosts Holdings in Newmont Co. (NYSE:NEM)

Amalgamated Bank increased its position in shares of Newmont Co. (NYSE:NEM) by 39.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 281,767 shares of the basic materials company’s stock after buying an additional 79,032 shares during the quarter. Amalgamated Bank’s holdings in Newmont were worth $11,662,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Grey Street Capital LLC increased its stake in Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after acquiring an additional 289 shares during the last quarter. Reitz Capital Advisors LLC lifted its position in Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after buying an additional 298 shares during the last quarter. Antonetti Capital Management LLC boosted its stake in Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after buying an additional 300 shares during the period. Sigma Planning Corp increased its position in shares of Newmont by 4.6% during the third quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock valued at $261,000 after acquiring an additional 309 shares during the last quarter. Finally, Hendley & Co. Inc. raised its stake in shares of Newmont by 0.6% in the 3rd quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock valued at $1,920,000 after acquiring an additional 324 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NEM shares. Royal Bank of Canada dropped their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. TD Securities boosted their price objective on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. BMO Capital Markets lowered their target price on Newmont from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.35.

Newmont Stock Down 1.0 %

Shares of NYSE:NEM traded down $0.39 during trading on Friday, hitting $40.66. 7,306,324 shares of the company were exchanged, compared to its average volume of 14,411,746. The firm’s 50 day moving average price is $36.21 and its 200-day moving average price is $37.01. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The stock has a market capitalization of $46.89 billion, a P/E ratio of -15.23, a PEG ratio of 0.97 and a beta of 0.48.

Newmont (NYSE:NEM) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the company earned $0.40 earnings per share. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

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.