180 Wealth Advisors LLC Buys New Holdings in Newmont Co. (NYSE:NEM)

180 Wealth Advisors LLC purchased a new position in shares of Newmont Co. (NYSE:NEMFree Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,779 shares of the basic materials company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Newmont by 13.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock worth $5,004,000 after purchasing an additional 16,902 shares in the last quarter. Viking Fund Management LLC acquired a new position in shares of Newmont in the 1st quarter worth approximately $1,075,000. S.A. Mason LLC lifted its position in shares of Newmont by 23.9% during the 1st quarter. S.A. Mason LLC now owns 2,955 shares of the basic materials company’s stock worth $106,000 after buying an additional 570 shares during the period. Elevated Capital Advisors LLC boosted its stake in Newmont by 70.3% in the 1st quarter. Elevated Capital Advisors LLC now owns 8,355 shares of the basic materials company’s stock valued at $299,000 after buying an additional 3,450 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its position in Newmont by 18.7% in the first quarter. Eagle Rock Investment Company LLC now owns 20,014 shares of the basic materials company’s stock valued at $717,000 after acquiring an additional 3,151 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NEM shares. Bank of America boosted their target price on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday. Scotiabank upped their price objective on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein cut their target price on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. Finally, BMO Capital Markets cut their price objective on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $49.13.

Check Out Our Latest Research Report on Newmont

Newmont Stock Up 0.1 %

Shares of NEM stock opened at $41.87 on Friday. The firm’s 50 day moving average price is $41.67 and its two-hundred day moving average price is $38.11. 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 Co. has a 52-week low of $29.42 and a 52-week high of $45.92.

Newmont (NYSE:NEMGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the company earned $0.40 EPS. The firm’s revenue was up 50.2% on a year-over-year basis. As a group, equities analysts forecast that Newmont Co. will post 2.48 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were paid a $0.25 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.39%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Newmont Company Profile

(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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