Peregrine Asset Advisers Inc. Sells 3,475 Shares of Newmont Co. (NYSE:NEM)

Peregrine Asset Advisers Inc. trimmed its holdings in Newmont Co. (NYSE:NEM) by 23.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,123 shares of the basic materials company’s stock after selling 3,475 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Newmont were worth $460,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. purchased a new position in Newmont in the third quarter worth about $26,000. Life Planning Partners Inc purchased a new position in Newmont in the fourth quarter worth about $26,000. OFI Invest Asset Management purchased a new position in Newmont in the third quarter worth about $30,000. CVA Family Office LLC purchased a new position in Newmont in the fourth quarter worth about $34,000. Finally, Operose Advisors LLC boosted its position in Newmont by 156.8% in the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 635 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Up 1.8 %

NEM traded up $0.74 during trading hours on Monday, reaching $41.40. 7,714,917 shares of the company’s stock traded hands, compared to its average volume of 13,560,684. The firm has a 50-day moving average price of $36.62 and a 200 day moving average price of $36.99. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $49.08. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $47.74 billion, a PE ratio of -15.51, a PEG ratio of 0.96 and a beta of 0.48.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NEM shares. Citigroup lowered their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Argus cut Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, BMO Capital Markets lowered their price objective on Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday. Seven 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, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $48.35.

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.