Blue Trust Inc. Boosts Stock Position in Newmont Co. (NYSE:NEM)

Blue Trust Inc. grew its holdings in shares of Newmont Co. (NYSE:NEMFree Report) by 13.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,993 shares of the basic materials company’s stock after buying an additional 460 shares during the period. Blue Trust Inc.’s holdings in Newmont were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Parkside Financial Bank & Trust lifted its stake in Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 278 shares during the last quarter. S.A. Mason LLC boosted its holdings in shares of Newmont by 15.1% in the 3rd quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock valued at $80,000 after buying an additional 285 shares in the last quarter. Grey Street Capital LLC grew its position in shares of Newmont by 0.4% in the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after buying an additional 289 shares during the last quarter. Reitz Capital Advisors LLC raised its stake in Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after acquiring an additional 298 shares in the last quarter. Finally, Antonetti Capital Management LLC lifted its position in Newmont by 30.0% in the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 300 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on NEM shares. UBS Group dropped their price objective on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, December 13th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Jefferies Financial Group initiated coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. BMO Capital Markets decreased their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, Scotiabank cut their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Newmont has a consensus rating of “Hold” and a consensus target price of $52.97.

Read Our Latest Research Report on NEM

Newmont Stock Up 1.6 %

Shares of NYSE:NEM opened at $36.43 on Tuesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $52.76. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $33.57 and its 200-day simple moving average is $36.88. The company has a market cap of $42.00 billion, a price-to-earnings ratio of -15.31, a PEG ratio of 3.06 and a beta of 0.50.

Newmont (NYSE:NEMGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the business earned $0.44 EPS. Newmont’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, equities research analysts predict that Newmont Co. will post 1.88 earnings per share for the current year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

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.

See Also

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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