Cannell & Co. Sells 1,160 Shares of Newmont Co. (NYSE:NEM)

Cannell & Co. decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,983 shares of the basic materials company’s stock after selling 1,160 shares during the quarter. Cannell & Co.’s holdings in Newmont were worth $1,696,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Newmont by 27.5% during the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after purchasing an additional 36,645 shares during the period. Janney Montgomery Scott LLC boosted its stake in Newmont by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after purchasing an additional 26,599 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Newmont by 13.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after purchasing an additional 94,692 shares during the period. KLCM Advisors Inc. raised its holdings in Newmont by 4.3% in the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after acquiring an additional 17,791 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Newmont by 70.5% in the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after acquiring an additional 35,303 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on NEM shares. TD Securities upped their price target on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. BMO Capital Markets cut their price target on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Jefferies Financial Group started coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Scotiabank cut their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Newmont Trading Down 0.1 %

NEM stock opened at $40.58 on Thursday. The business has a fifty day moving average price of $36.00 and a 200 day moving average price of $36.99. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18. The stock has a market capitalization of $46.79 billion, a price-to-earnings ratio of -15.20, a P/E/G ratio of 1.04 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90.

Newmont (NYSE:NEM) last released 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 positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the firm posted $0.40 EPS. The business’s revenue was up 50.2% on a year-over-year basis. Analysts expect that Newmont Co. will post 2.16 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 issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. Newmont’s dividend payout ratio is -37.45%.

Newmont 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.