Wealth Enhancement Advisory Services LLC raised its holdings in shares of Newmont Co. (NYSE:NEM – Free Report) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 142,882 shares of the basic materials company’s stock after buying an additional 299 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Newmont were worth $5,318,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. ORG Partners LLC increased its stake in shares of Newmont by 22.8% during the fourth quarter. ORG Partners LLC now owns 26,644 shares of the basic materials company’s stock valued at $992,000 after buying an additional 4,948 shares during the period. Fortem Financial Group LLC increased its position in Newmont by 7.3% during the 4th quarter. Fortem Financial Group LLC now owns 27,967 shares of the basic materials company’s stock valued at $1,041,000 after purchasing an additional 1,891 shares during the period. Bard Financial Services Inc. raised its holdings in Newmont by 25.4% in the 4th quarter. Bard Financial Services Inc. now owns 86,180 shares of the basic materials company’s stock worth $3,208,000 after purchasing an additional 17,480 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the period. Finally, Waller Financial Planning Group Inc. bought a new stake in shares of Newmont during the 4th quarter valued at about $218,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Analyst Ratings Changes
NEM has been the subject of several research analyst reports. Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Royal Bank of Canada dropped their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.80.
Newmont Stock Up 0.1 %
NEM stock opened at $39.15 on Tuesday. The stock has a market capitalization of $44.57 billion, a P/E ratio of -25.76, a P/E/G ratio of 0.35 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The business has a fifty day moving average price of $40.61 and a 200-day moving average price of $46.91.
Newmont (NYSE:NEM – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the firm posted $0.36 EPS. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. Equities analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.
Newmont Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.55%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.
Insider Buying and Selling at Newmont
In other news, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.
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.
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