3,918 Shares in Newmont Corporation $NEM Bought by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY bought a new stake in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,918 shares of the basic materials company’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Colonial Trust Advisors increased its holdings in Newmont by 20.8% during the 3rd quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 118 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in shares of Newmont by 26.4% during the 3rd quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 140 shares in the last quarter. Fielder Capital Group LLC raised its position in shares of Newmont by 1.7% during the 3rd quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock worth $707,000 after purchasing an additional 141 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC lifted its stake in Newmont by 2.3% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NEM shares. Canaccord Genuity Group raised their price target on Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Raymond James Financial boosted their target price on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $121.00 to $157.00 in a research note on Friday. Finally, Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.73.

Newmont Price Performance

NEM opened at $128.82 on Tuesday. Newmont Corporation has a 1 year low of $41.93 and a 1 year high of $134.88. The company’s 50 day simple moving average is $116.26 and its 200 day simple moving average is $95.77. The stock has a market capitalization of $140.14 billion, a PE ratio of 20.16, a P/E/G ratio of 1.08 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.26 per share. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 3rd. Newmont’s payout ratio is presently 15.65%.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.