AJOVista LLC Takes Position in Newmont Co. (NYSE:NEM)

AJOVista LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,814 shares of the basic materials company’s stock, valued at approximately $116,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Grey Street Capital LLC boosted 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 valued at $2,892,000 after buying an additional 289 shares during the period. Reitz Capital Advisors LLC increased its position in shares of Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after acquiring an additional 298 shares during the period. Antonetti Capital Management LLC raised its stake in shares of Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 300 shares during the last quarter. Sigma Planning Corp boosted its holdings in shares of Newmont by 4.6% during the third quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 309 shares during the period. Finally, Hendley & Co. Inc. grew its stake in shares of Newmont by 0.6% in the third quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock worth $1,920,000 after purchasing an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.0 %

NYSE:NEM traded down $0.39 during trading hours on Friday, reaching $40.66. 7,306,324 shares of the company traded hands, compared to its average volume of 14,411,746. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The stock has a market capitalization of $46.89 billion, a P/E ratio of -15.23, a P/E/G ratio of 0.97 and a beta of 0.48. The business’s 50-day moving average price is $36.21 and its two-hundred day moving average price is $37.01. 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 (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company 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%. Newmont’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. Analysts predict that Newmont Co. will post 2.32 earnings per share for the current year.

Newmont Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on NEM. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday. Royal Bank of Canada dropped their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Scotiabank dropped their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Finally, Citigroup cut their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.35.

Newmont 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.