SVB Wealth LLC Purchases 2,593 Shares of Newmont Co. (NYSE:NEM)

SVB Wealth LLC boosted its position in Newmont Co. (NYSE:NEM) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,559 shares of the basic materials company’s stock after acquiring an additional 2,593 shares during the quarter. SVB Wealth LLC’s holdings in Newmont were worth $892,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its stake in shares of 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 buying an additional 278 shares during the last quarter. S.A. Mason LLC grew its stake in shares of Newmont by 15.1% during the third quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock worth $80,000 after buying an additional 285 shares during the last quarter. Grey Street Capital LLC grew its stake in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after buying an additional 289 shares during the last quarter. Reitz Capital Advisors LLC grew its stake in shares of Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after buying an additional 298 shares during the last quarter. Finally, Antonetti Capital Management LLC grew its stake in shares of Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after buying an additional 300 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 1.2 %

NEM stock opened at $39.03 on Friday. 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 Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The company’s fifty day simple moving average is $34.82 and its 200 day simple moving average is $36.83.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. Newmont’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, research analysts predict that Newmont Co. will post 2.01 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is currently -42.02%.

Analysts Set New Price Targets

A number of research firms have weighed in on NEM. TD Securities decreased their target price 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. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Scotiabank cut their price target 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. Finally, StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a report 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, Newmont has an average rating of “Hold” and an average price target of $51.97.

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.