Stratos Wealth Partners LTD. Cuts Stock Position in Newmont Co. (NYSE:NEM)

Stratos Wealth Partners LTD. lowered its stake in Newmont Co. (NYSE:NEM) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,720 shares of the basic materials company’s stock after selling 1,003 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Newmont were worth $361,000 as of its most recent SEC filing.

Other institutional investors have also 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 last quarter. 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 last quarter. SG Americas Securities LLC boosted its stake in Newmont by 1,770.8% during 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 purchasing an additional 60,261 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Newmont by 70.5% during the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after purchasing an additional 35,303 shares during the last quarter. Finally, Muhlenkamp & Co. Inc. purchased a new stake in Newmont during the 4th quarter valued at $5,944,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of Newmont stock opened at $38.64 on Monday. Newmont Co. has a one year low of $29.42 and a one year high of $51.46. The stock’s fifty day moving average is $34.30 and its 200 day moving average is $36.77. The stock has a market cap of $44.54 billion, a P/E ratio of -16.24, a P/E/G ratio of 1.06 and a beta of 0.50. 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 (NYSE:NEM) last announced its earnings results 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 positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the business posted $0.44 earnings per share. Newmont’s revenue for the quarter was up 23.7% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Co. will post 1.97 earnings per share for the current year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. Newmont’s dividend payout ratio is presently -42.02%.

Analyst Ratings Changes

Several brokerages have commented on NEM. Citigroup cut their target price on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Jefferies Financial Group began coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, TD Securities lowered their price target on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Newmont presently has an average rating of “Hold” and an average target price of $51.97.

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.