Cerity Partners LLC Acquires 14,700 Shares of Newmont Co. (NYSE:NEM)

Cerity Partners LLC boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 230.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,091 shares of the basic materials company’s stock after purchasing an additional 14,700 shares during the quarter. Cerity Partners LLC’s holdings in Newmont were worth $873,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in shares of Newmont by 40.8% during the third quarter. International Assets Investment Management LLC now owns 19,460 shares of the basic materials company’s stock valued at $725,000 after purchasing an additional 5,638 shares in the last quarter. AE Wealth Management LLC boosted its stake in Newmont by 2.5% during the third quarter. AE Wealth Management LLC now owns 30,989 shares of the basic materials company’s stock valued at $1,145,000 after buying an additional 767 shares during the last quarter. HB Wealth Management LLC increased its stake in Newmont by 7.2% in the 3rd quarter. HB Wealth Management LLC now owns 10,877 shares of the basic materials company’s stock worth $402,000 after acquiring an additional 729 shares during the last quarter. Mcrae Capital Management Inc. raised its holdings in shares of Newmont by 9.3% during the 3rd quarter. Mcrae Capital Management Inc. now owns 5,900 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 500 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its position in shares of Newmont by 81.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 18,084 shares of the basic materials company’s stock valued at $668,000 after acquiring an additional 8,139 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM opened at $37.48 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market cap of $43.21 billion, a PE ratio of -15.75, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The firm’s 50 day simple moving average is $34.90 and its 200-day simple moving average is $36.86. Newmont Co. has a one year low of $29.42 and a one year high of $50.18.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share 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 for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, equities analysts predict that Newmont Co. will post 1.98 EPS for the current year.

Newmont Cuts Dividend

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 2.67%. The ex-dividend date was Monday, March 4th. Newmont’s payout ratio is -42.02%.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research reports. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target for the company. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.89.

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.