Ellsworth Advisors LLC Acquires 983 Shares of Newmont Co. (NYSE:NEM)

Ellsworth Advisors LLC increased its holdings in shares of Newmont Co. (NYSE:NEM) by 9.5% during the 4th quarter, HoldingsChannel reports. The fund owned 11,284 shares of the basic materials company’s stock after buying an additional 983 shares during the period. Ellsworth Advisors LLC’s holdings in Newmont were worth $467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compass Wealth Management LLC bought a new position in Newmont during the 4th quarter valued at about $25,000. Quarry LP lifted its stake in shares of Newmont by 1,462.5% in the 1st quarter. Quarry LP now owns 625 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 585 shares during the period. TFC Financial Management Inc. boosted its holdings in shares of Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after buying an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Newmont during the third quarter valued at approximately $26,000. Finally, Bartlett & Co. LLC purchased a new stake in shares of Newmont in the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 1.7 %

Shares of NEM traded up $0.59 during midday trading on Thursday, hitting $35.84. The stock had a trading volume of 14,428,337 shares, compared to its average volume of 13,389,644. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $52.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. The stock’s 50 day moving average is $33.52 and its 200 day moving average is $36.94. The firm has a market cap of $41.32 billion, a PE ratio of -15.06, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, analysts forecast that Newmont Co. will post 1.88 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. Newmont’s payout ratio is -42.02%.

Analysts Set New Price Targets

A number of equities research analysts have commented on NEM shares. UBS Group decreased their price target on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, December 13th. BMO Capital Markets dropped their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research note on Wednesday, January 3rd. TD Securities reduced their target price on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Finally, Scotiabank cut their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.97.

Insider Buying and Selling at Newmont

In related news, COO Robert D. Atkinson sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 in the company, valued at $2,238,396.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.