Howe & Rusling Inc. Lowers Stake in Newmont Co. (NYSE:NEM)

Howe & Rusling Inc. lowered its stake in shares of Newmont Co. (NYSE:NEM) by 21.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,735 shares of the basic materials company’s stock after selling 1,840 shares during the period. Howe & Rusling Inc.’s holdings in Newmont were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Newmont by 17.6% during the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after buying an additional 12,360,775 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Newmont by 57.2% in the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock valued at $2,122,913,000 after purchasing an additional 18,664,614 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Newmont by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after purchasing an additional 483,377 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Newmont by 5.7% in the 3rd quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after purchasing an additional 554,513 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Newmont by 5.8% in the 3rd quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock valued at $289,232,000 after purchasing an additional 428,537 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. Citigroup lowered their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Scotiabank lowered their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada lowered their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Finally, BMO Capital Markets reduced their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Newmont Trading Down 0.4 %

NYSE NEM opened at $40.40 on Thursday. The company’s fifty day simple moving average is $36.00 and its 200-day simple moving average is $36.99. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The stock has a market cap of $46.59 billion, a P/E ratio of -15.20, a PEG ratio of 1.04 and a beta of 0.48.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for 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 quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. Equities research analysts predict that Newmont Co. will post 2.16 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 given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. Newmont’s dividend payout ratio is currently -37.45%.

Newmont Company Profile

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.