Newmont Co. (NYSE:NEM) Short Interest Update

Newmont Co. (NYSE:NEMGet Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 17,920,000 shares, a decline of 24.5% from the May 15th total of 23,750,000 shares. Based on an average trading volume of 12,250,000 shares, the short-interest ratio is presently 1.5 days. Approximately 1.6% of the shares of the company are sold short.

Institutional Trading of Newmont

Large investors have recently modified their holdings of the business. LRI Investments LLC acquired a new stake in shares of Newmont in the first quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $26,000. Manchester Capital Management LLC grew its position in shares of Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 397 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $34,000. Finally, Heritage Wealth Advisors grew its position in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NEM shares. BMO Capital Markets reduced their target price on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Citigroup reduced their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. TD Securities upped their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Sanford C. Bernstein reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of “Hold” and a consensus price target of $48.36.

Get Our Latest Report on Newmont

Newmont Price Performance

NEM traded up $0.26 on Friday, hitting $40.82. 5,483,773 shares of the company were exchanged, compared to its average volume of 12,172,541. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The business’s fifty day moving average is $41.06 and its 200 day moving average is $37.98. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $45.92. The firm has a market capitalization of $47.07 billion, a P/E ratio of -15.29, a price-to-earnings-growth ratio of 0.35 and a beta of 0.52.

Newmont (NYSE:NEMGet Free Report) 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 negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont will post 2.42 EPS for the current year.

Newmont Dividend Announcement

The firm 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 $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. Newmont’s dividend payout ratio is presently -37.45%.

About Newmont

(Get 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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