Geneos Wealth Management Inc. Cuts Stock Holdings in Newmont Co. (NYSE:NEM)

Geneos Wealth Management Inc. reduced its position in shares of Newmont Co. (NYSE:NEM) by 21.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,809 shares of the basic materials company’s stock after selling 766 shares during the period. Geneos Wealth Management Inc.’s holdings in Newmont were worth $116,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Compass Wealth Management LLC purchased a new position in Newmont during the fourth quarter worth about $25,000. Life Planning Partners Inc purchased a new position in Newmont during the fourth quarter worth about $26,000. Quarry LP raised its holdings in Newmont by 1,462.5% during the first quarter. Quarry LP now owns 625 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 585 shares in the last quarter. TFC Financial Management Inc. raised its holdings in Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in Newmont during the third quarter worth about $26,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Royal Bank of Canada dropped their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. BMO Capital Markets dropped their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Hold” and an average target price of $51.97.

Newmont Stock Performance

Shares of NYSE NEM opened at $38.44 on Tuesday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The firm’s 50 day moving average price is $34.41 and its 200 day moving average price is $36.78. 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 earnings per share (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 firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. Equities analysts forecast that Newmont Co. will post 1.97 EPS for the current fiscal year.

Newmont Cuts Dividend

The company 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. The ex-dividend date was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.60%. Newmont’s dividend payout ratio (DPR) is currently -42.02%.

About Newmont

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.