Belpointe Asset Management LLC Makes New $397,000 Investment in Newmont Co. (NYSE:NEM)

Belpointe Asset Management LLC purchased a new stake in Newmont Co. (NYSE:NEMFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 9,587 shares of the basic materials company’s stock, valued at approximately $397,000.

Other institutional investors have also modified their holdings of the company. Life Planning Partners Inc acquired a new position in Newmont in the fourth quarter valued at approximately $26,000. Manchester Capital Management LLC boosted its position in Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 397 shares during the period. CVA Family Office LLC acquired a new position in Newmont during the 4th quarter valued at approximately $34,000. Advantage Trust Co bought a new position in Newmont during the 4th quarter worth $41,000. Finally, Operose Advisors LLC increased its position in Newmont by 156.8% in the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after buying an additional 635 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $42.50 on Friday. The company has a 50-day moving average of $40.64 and a 200-day moving average of $37.84. The firm has a market cap of $49.01 billion, a price-to-earnings ratio of -15.92, a price-to-earnings-growth ratio of 0.34 and a beta of 0.52. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92.

Newmont (NYSE:NEMGet Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. Analysts forecast that Newmont Co. will post 2.37 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NEM. TD Securities upped their price target on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Scotiabank raised their price target on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein cut their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. 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, StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.36.

Check Out Our Latest Analysis on NEM

About Newmont

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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