Carnegie Capital Asset Management LLC has acquired a new stake in the shares of Newmont Co. (New York Stock Exchange: NEM – Get a rating) during the first trimester, HoldingsChannel.com reports. The fund acquired 2,600 shares of the basic materials company, valued at around $207,000.
Other hedge funds and other institutional investors have also recently changed their holdings in the company. Vectors Research Management LLC acquired a new position in Newmont stock during Q4 valued at approximately $25,000. Rational Advisors LLC increased its equity stake in Newmont by 133.7% during the 4th quarter. Rational Advisors LLC now owns 416 shares of the basic materials company valued at $26,000 after acquiring 238 additional shares in the last quarter. Bedel Financial Consulting Inc. increased its equity stake in Newmont by 105.9% during the 4th quarter. Bedel Financial Consulting Inc. now owns 492 shares of the basic materials company valued at $31,000 after acquiring 253 additional shares in the last quarter. Quent Capital LLC acquired a new position in Newmont stock during Q4 valued at approximately $40,000. Finally, Glassman Wealth Services increased its stake in Newmont shares by 58.6% during the 4th quarter. Glassman Wealth Services now owns 674 shares of the basic materials company valued at $42,000 after acquiring 249 additional shares in the last quarter. 78.41% of the shares are currently held by institutional investors and hedge funds.
Several brokerages have recently weighed in on NEM. Sanford C. Bernstein downgraded Newmont from an “outperform” rating to a “market performer” rating and set a target price of $57.00 for the company. in a Monday April 25 research note. National Bankshares cut its target price on Newmont from $119.00 to $115.00 and set an “industry performance” rating for the company in a Tuesday, April 26 research note. Canaccord Genuity Group reduced its target price on Newmont from $87.00 to $80.00 and set a “hold” rating for the company in a Tuesday, April 26 research note. Raymond James cut his target price on Newmont from $92.00 to $88.00 and set an “outperform” rating for the company in a Monday, April 25 research note. Finally, Canaccord Genuity Group reduced its target price on Newmont from $87.00 to $80.00 in a Tuesday, April 26 research note. Fifteen equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.43.
In other news, EVP Nancy Lipson sold 19,866 shares of Newmont in a trade on Wednesday, March 30. The stock was sold at an average price of $79.00, for a total value of $1,569,414.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont in a trade on Monday, May 2. The shares were sold at an average price of $71.20, for a total value of $783,200.00. Following the completion of the sale, the CEO now directly owns 287,949 shares of the company, valued at $20,501,968.80. Disclosure of this sale can be found here. Insiders sold a total of 61,866 shares of the company valued at $4,569,694 in the past ninety days. Insiders hold 0.11% of the company’s shares.
Newmont Stock opened at $64.18 on Friday. The company has a debt ratio of 0.28, a current ratio of 2.92 and a quick ratio of 2.53. The company has a market capitalization of $50.94 billion, a PE ratio of 48.99 and a beta of 0.37. Newmont Co. has a one-year low of $52.60 and a one-year high of $86.37. The company has a 50-day simple moving average of $69.02 and a 200-day simple moving average of $68.09.
Newmont (New York Stock Exchange: NEM – Get a rating) last released its results on Friday, April 22. The basic materials company reported EPS of $0.69 for the quarter, missing the consensus estimate of $0.71 per ($0.02). The company posted revenue of $3.02 billion for the quarter, versus a consensus estimate of $3.06 billion. Newmont had a return on equity of 10.24% and a net margin of 8.53%. Newmont’s quarterly revenue increased 5.3% over the same quarter last year. In the same quarter last year, the company achieved EPS of $0.74. Stock analysts expect Newmont Co. to post earnings per share of 3.43 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 16. Investors of record on Thursday, June 2 received a dividend of $0.55 per share. The ex-dividend date was Wednesday, June 1. This represents a dividend of $2.20 on an annualized basis and a yield of 3.43%. Newmont’s dividend payout ratio is 167.94%.
Profile Newmont (Get a rating)
Newmont Corporation is engaged in the production and exploration of gold. He also explores 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 and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and a land position of 62,800 square kilometers.
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