Daiwa Securities Group Inc. Has $5.44 Million Stock Position in Newmont Co. (NYSE:NEM)

Daiwa Securities Group Inc. grew its holdings in shares of Newmont Co. (NYSE:NEM) by 55.3% in the 4th quarter, Holdings Channel reports. The fund owned 131,382 shares of the basic materials company’s stock after buying an additional 46,780 shares during the period. Daiwa Securities Group Inc.’s holdings in Newmont were worth $5,438,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its position in Newmont by 25.8% in the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after buying an additional 278 shares in the last quarter. S.A. Mason LLC raised its position in Newmont by 15.1% in the third quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 285 shares during the last quarter. Grey Street Capital LLC boosted its stake in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after purchasing an additional 289 shares in the last quarter. Reitz Capital Advisors LLC increased its stake in shares of 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 period. Finally, Antonetti Capital Management LLC boosted its position in Newmont by 30.0% during the 3rd 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. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NEM stock opened at $39.03 on Friday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The stock has a market capitalization of $44.99 billion, a PE ratio of -16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. The company’s 50-day moving average is $34.82 and its 200-day moving average is $36.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue was up 23.7% on a year-over-year basis. Equities research analysts expect that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is currently -42.02%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Royal Bank of Canada reduced their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Jefferies Financial Group initiated coverage on Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Citigroup dropped their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, StockNews.com downgraded shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Hold” and a consensus price target of $51.97.

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.