J.W. Cole Advisors Inc. Has $322,000 Stock Position in Newmont Co. (NYSE:NEM)

J.W. Cole Advisors Inc. lifted its position in shares of Newmont Co. (NYSE:NEM) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,788 shares of the basic materials company’s stock after acquiring an additional 378 shares during the period. J.W. Cole Advisors Inc.’s holdings in Newmont were worth $322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Newmont by 17.6% in the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after purchasing an additional 12,360,775 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Newmont by 61.1% in the third quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock valued at $196,706,000 after purchasing an additional 2,019,591 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Newmont by 36.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company’s stock valued at $135,435,000 after purchasing an additional 868,804 shares in the last quarter. International Assets Investment Management LLC raised its stake in Newmont by 3,044.9% in the fourth quarter. International Assets Investment Management LLC now owns 612,003 shares of the basic materials company’s stock valued at $25,331,000 after purchasing an additional 592,543 shares in the last quarter. Finally, Mirabella Financial Services LLP raised its stake in Newmont by 5,976.0% in the third quarter. Mirabella Financial Services LLP now owns 565,070 shares of the basic materials company’s stock valued at $20,879,000 after purchasing an additional 555,770 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NEM shares. Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup lowered their target price on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, Royal Bank of Canada lowered their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.89.

Newmont Stock Performance

Shares of Newmont stock opened at $38.60 on Thursday. The stock has a fifty day simple moving average of $35.14 and a 200 day simple moving average of $36.87. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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). The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Sell-side analysts expect that Newmont Co. will post 1.97 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were paid a $0.25 dividend. 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 (DPR) is presently -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.