Stevens Capital Management LP Sells 3,999 Shares of Newmont Co. (NYSE:NEM)

Stevens Capital Management LP trimmed its holdings in Newmont Co. (NYSE:NEM) by 31.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,643 shares of the basic materials company’s stock after selling 3,999 shares during the period. Stevens Capital Management LP’s holdings in Newmont were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NEM. TFC Financial Management Inc. raised 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 valued at $26,000 after buying an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Newmont in the third quarter worth approximately $26,000. Life Planning Partners Inc acquired a new position in shares of Newmont in the 4th quarter valued at $26,000. OFI Invest Asset Management bought a new position in shares of Newmont in the 3rd quarter valued at about $30,000. Finally, CVA Family Office LLC acquired a new stake in Newmont during the 4th quarter worth approximately $34,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Royal Bank of Canada lowered their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. TD Securities increased their price objective on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. Jefferies Financial Group started coverage on shares of Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, Citigroup cut their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.75.

Newmont Price Performance

Shares of NEM stock traded down $0.68 on Friday, reaching $42.73. The company’s stock had a trading volume of 14,214,859 shares, compared to its average volume of 13,801,380. The company has a market capitalization of $49.26 billion, a P/E ratio of -18.02, a PEG ratio of 1.07 and a beta of 0.50. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The stock’s 50 day simple moving average is $35.35 and its 200-day simple moving average is $36.92.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 50.2% on a year-over-year basis. As a group, equities analysts predict that Newmont Co. will post 1.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

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 2.34%. Newmont’s payout ratio is presently -42.02%.

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.