Newmont Co. (NYSE:NEM) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its stake in Newmont Co. (NYSE:NEM) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,587 shares of the basic materials company’s stock after purchasing an additional 5,946 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Newmont were worth $893,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Grey Street Capital LLC lifted its holdings 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 valued at $2,892,000 after acquiring an additional 289 shares during the period. Reitz Capital Advisors LLC boosted its position in Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after buying an additional 298 shares in the last quarter. Antonetti Capital Management LLC grew its stake in 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. Sigma Planning Corp increased its holdings in shares of Newmont by 4.6% during the third quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after buying an additional 309 shares in the last quarter. Finally, Hendley & Co. Inc. increased its holdings in shares of Newmont by 0.6% during the third quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock worth $1,920,000 after buying an additional 324 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective 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. Scotiabank cut their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Jefferies Financial Group assumed coverage on shares of Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. National Bank Financial lowered shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Finally, StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.35.

Newmont Trading Down 1.0 %

NEM stock opened at $40.66 on Friday. The business has a 50-day simple moving average of $36.40 and a 200 day simple moving average of $37.02. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. Equities research analysts predict that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

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.