Newmont Co. (NYSE:NEM) Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust boosted its holdings in Newmont Co. (NYSE:NEM) by 482.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,611 shares of the basic materials company’s stock after acquiring an additional 10,446 shares during the period. Parkside Financial Bank & Trust’s holdings in Newmont were worth $522,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new stake in Newmont in the fourth quarter valued at approximately $26,000. TFC Financial Management Inc. increased its position in shares of Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in shares of Newmont during the third quarter worth $26,000. CVA Family Office LLC purchased a new stake in shares of Newmont during the fourth quarter worth $34,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Newmont during the third quarter worth $30,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. Citigroup cut their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Royal Bank of Canada cut their price objective 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. Scotiabank cut their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.89.

Newmont Stock Performance

NYSE NEM traded up $0.16 during trading hours on Tuesday, hitting $37.62. The company had a trading volume of 8,109,524 shares, compared to its average volume of 13,465,132. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18. The company has a market cap of $43.37 billion, a PE ratio of -15.55, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The business has a 50 day moving average of $34.90 and a 200-day moving average of $36.86.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue was up 23.7% on a year-over-year basis. As a group, equities research analysts expect that Newmont Co. will post 1.98 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 paid 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 2.66%. Newmont’s dividend payout ratio (DPR) is -42.02%.

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.