4,905 Shares in Newmont Co. (NYSE:NEM) Bought by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC purchased a new position in shares of Newmont Co. (NYSE:NEMFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,905 shares of the basic materials company’s stock, valued at approximately $203,000.

Several other hedge funds also recently bought and sold shares of NEM. Blair William & Co. IL increased its position in Newmont by 14.8% during the first quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after buying an additional 5,484 shares in the last quarter. Sei Investments Co. grew its position in shares of Newmont by 19.3% in the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock valued at $5,219,000 after purchasing an additional 10,692 shares during the period. Cetera Investment Advisers grew its position in shares of Newmont by 46.9% in the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after purchasing an additional 8,915 shares during the period. Baird Financial Group Inc. grew its position in shares of Newmont by 7.2% in the first quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after purchasing an additional 39,765 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of Newmont by 25.8% in the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 79.53% of the company’s stock.

Newmont Trading Down 1.0 %

NYSE:NEM opened at $33.88 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $34.06 and its two-hundred day moving average is $37.21. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $52.76. The company has a market cap of $39.06 billion, a PE ratio of -14.24, a P/E/G ratio of 2.94 and a beta of 0.49.

Newmont (NYSE:NEMGet Free Report) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. On average, analysts predict that Newmont Co. will post 1.88 EPS for the current year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, March 4th. Newmont’s payout ratio is -42.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NEM shares. Scotiabank lowered their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. Macquarie assumed coverage on Newmont in a research report on Tuesday, November 21st. They set an “outperform” rating and a $45.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Hold” and a consensus price target of $52.97.

Get Our Latest Analysis on Newmont

Insider Transactions at Newmont

In other news, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $41.26, for a total transaction of $226,930.00. Following the sale, the chief operating officer now directly owns 54,251 shares in the company, valued at approximately $2,238,396.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

Newmont Profile

(Free Report)

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.

Read More

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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