Quent Capital LLC Decreases Stake in Newmont Co. (NYSE:NEM)

Quent Capital LLC lessened its stake in shares of Newmont Co. (NYSE:NEMFree Report) by 42.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,242 shares of the basic materials company’s stock after selling 900 shares during the quarter. Quent Capital LLC’s holdings in Newmont were worth $51,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in shares of Newmont by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after buying an additional 26,599 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Newmont by 1,770.8% in the 4th quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock valued at $2,635,000 after acquiring an additional 60,261 shares during the period. Muhlenkamp & Co. Inc. acquired a new position in shares of Newmont in the 4th quarter valued at $5,944,000. Assenagon Asset Management S.A. increased its holdings in shares of Newmont by 101.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 925,742 shares of the basic materials company’s stock valued at $38,316,000 after acquiring an additional 465,903 shares during the period. Finally, Fulton Bank N.A. increased its holdings in shares of Newmont by 14.3% in the 4th quarter. Fulton Bank N.A. now owns 8,838 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 1,107 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $35.84 on Monday. The firm has a market cap of $41.32 billion, a price-to-earnings ratio of -15.06, a price-to-earnings-growth ratio of 3.06 and a beta of 0.49. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average is $33.57 and its two-hundred day moving average is $36.90. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $52.76.

Newmont (NYSE:NEMGet Free Report) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. Newmont’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. Research analysts expect that Newmont Co. will post 1.88 EPS for the current year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Insider Buying and Selling

In related news, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total transaction of $226,930.00. Following the completion of the sale, the chief operating officer now owns 54,251 shares of the company’s stock, valued at approximately $2,238,396.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TD Securities dropped their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Jefferies Financial Group assumed coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Royal Bank of Canada dropped their price objective 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 cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.97.

Get Our Latest Report on Newmont

About Newmont

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.