Concord Wealth Partners Cuts Stake in Newmont Co. (NYSE:NEM)

Concord Wealth Partners lowered its position in shares of Newmont Co. (NYSE:NEM) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,311 shares of the basic materials company’s stock after selling 713 shares during the quarter. Concord Wealth Partners’ holdings in Newmont were worth $220,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Grey Street Capital LLC raised its position in Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after buying an additional 289 shares during the last quarter. Reitz Capital Advisors LLC raised its position in Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after buying an additional 298 shares during the last quarter. Antonetti Capital Management LLC raised its position in Newmont by 30.0% during the 3rd 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 raised its position in Newmont by 4.6% during the 3rd 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 during the last quarter. Finally, Hendley & Co. Inc. increased its holdings in shares of Newmont by 0.6% in the 3rd quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock valued at $1,920,000 after purchasing an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $40.58 on Thursday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The stock has a market capitalization of $46.79 billion, a P/E ratio of -15.20, a P/E/G ratio of 1.04 and a beta of 0.48. The firm’s 50-day moving average is $36.00 and its two-hundred day moving average is $36.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90.

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, topping the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 50.2% on a year-over-year basis. Equities analysts predict that Newmont Co. will post 2.16 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. Newmont’s dividend payout ratio is presently -37.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEM. Royal Bank of Canada cut their price target 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. TD Securities increased their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday. Scotiabank cut their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $51.75.

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.