Capital Asset Advisory Services LLC Acquires 532 Shares of Newmont Co. (NYSE:NEM)

Capital Asset Advisory Services LLC boosted its holdings in Newmont Co. (NYSE:NEMFree Report) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,117 shares of the basic materials company’s stock after buying an additional 532 shares during the period. Capital Asset Advisory Services LLC’s holdings in Newmont were worth $667,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in Newmont during the 4th quarter valued at $203,000. Farmers Trust Co. raised its position in shares of Newmont by 0.9% during the fourth quarter. Farmers Trust Co. now owns 140,391 shares of the basic materials company’s stock valued at $5,811,000 after buying an additional 1,255 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Newmont in the fourth quarter valued at about $352,000. Muhlenkamp & Co. Inc. bought a new stake in shares of Newmont in the fourth quarter valued at about $5,944,000. Finally, Czech National Bank grew its position in Newmont by 45.3% during the fourth quarter. Czech National Bank now owns 201,851 shares of the basic materials company’s stock worth $8,355,000 after buying an additional 62,949 shares in the last quarter. 79.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. UBS Group reduced their price objective on Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, December 13th. Macquarie assumed coverage on Newmont in a research report on Tuesday, November 21st. They issued an “outperform” rating and a $45.00 target price for the company. TD Securities lowered their price target on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. StockNews.com downgraded shares of Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, Scotiabank lowered their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has an average rating of “Hold” and an average price target of $52.97.

Get Our Latest Stock Report on NEM

Insiders Place Their Bets

In related news, COO Robert D. Atkinson sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total value of $226,930.00. Following the completion of the sale, the chief operating officer now owns 54,251 shares of the company’s stock, valued at $2,238,396.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $33.88 on Friday. The stock has a market capitalization of $39.06 billion, a P/E ratio of -14.24, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $52.76. The firm has a 50 day moving average of $34.06 and a 200-day moving average of $37.21. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEMGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, sell-side analysts anticipate that Newmont Co. will post 1.88 EPS for the current fiscal year.

Newmont Cuts Dividend

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

About Newmont

(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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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