Truist Financial Corp Has $4.94 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Truist Financial Corp reduced its position in shares of Newmont Co. (NYSE:NEM) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,430 shares of the basic materials company’s stock after selling 38,064 shares during the period. Truist Financial Corp’s holdings in Newmont were worth $4,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in shares of Newmont during the 4th quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of Newmont in the third quarter worth about $26,000. CVA Family Office LLC acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $34,000. OFI Invest Asset Management bought a new stake in shares of Newmont during the 3rd quarter valued at approximately $30,000. Finally, Operose Advisors LLC increased its position in Newmont by 156.8% during the 3rd quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 635 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Jefferies Financial Group started coverage on Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Finally, StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.35.

Newmont Stock Down 1.0 %

Shares of NYSE:NEM opened at $40.66 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.18. The business’s 50 day simple moving average is $36.40 and its two-hundred day simple moving average is $36.97. The firm has a market cap of $46.89 billion, a P/E ratio of -15.23, a PEG ratio of 0.96 and a beta of 0.48.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm posted $0.40 EPS. Newmont’s revenue was up 50.2% compared to the same quarter last year. As a group, research analysts forecast that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Dividend Announcement

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 given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.46%. Newmont’s payout ratio is -37.45%.

About Newmont

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.