Valeo Financial Advisors LLC Raises Stake in Newmont Co. (NYSE:NEM)

Valeo Financial Advisors LLC lifted its stake in shares of Newmont Co. (NYSE:NEM) by 36.8% during the 4th quarter, Holdings Channel reports. The fund owned 11,848 shares of the basic materials company’s stock after buying an additional 3,188 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Newmont were worth $490,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Sapient Capital LLC purchased a new stake in shares of Newmont during the 4th quarter valued at approximately $9,116,000. Janiczek Wealth Management LLC raised its position in Newmont by 805.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,132 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 1,007 shares during the period. Cerity Partners LLC lifted its stake in shares of Newmont by 230.0% in the 4th quarter. Cerity Partners LLC now owns 21,091 shares of the basic materials company’s stock valued at $873,000 after purchasing an additional 14,700 shares during the last quarter. Seelaus Asset Management LLC purchased a new position in shares of Newmont during the 4th quarter worth $218,000. Finally, Mutual of America Capital Management LLC increased its position in shares of Newmont by 31.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 200,479 shares of the basic materials company’s stock worth $8,298,000 after purchasing an additional 48,490 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NEM shares. Jefferies Financial Group began coverage on shares of Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Royal Bank of Canada lowered their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Finally, TD Securities lowered their target price on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.97.

Newmont Price Performance

Shares of NYSE:NEM opened at $38.64 on Monday. The company’s 50 day moving average is $34.30 and its two-hundred day moving average is $36.77. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $51.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business 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%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. On average, analysts expect that Newmont Co. will post 1.97 earnings per share 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s payout ratio is -42.02%.

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.