Newmont Co. (NYSE:NEM) Shares Sold by Leisure Capital Management

Leisure Capital Management reduced its stake in shares of Newmont Co. (NYSE:NEM) by 11.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,437 shares of the basic materials company’s stock after selling 2,855 shares during the period. Leisure Capital Management’s holdings in Newmont were worth $929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Vanguard Group Inc. boosted its stake in shares of Newmont by 17.6% during the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after acquiring an additional 12,360,775 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Newmont by 61.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock worth $196,706,000 after acquiring an additional 2,019,591 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Newmont by 36.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company’s stock worth $135,435,000 after acquiring an additional 868,804 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Newmont by 14.3% during the 4th quarter. California Public Employees Retirement System now owns 5,362,838 shares of the basic materials company’s stock worth $221,968,000 after acquiring an additional 671,110 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Newmont by 3,044.9% during the 4th quarter. International Assets Investment Management LLC now owns 612,003 shares of the basic materials company’s stock worth $25,331,000 after acquiring an additional 592,543 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 1.6 %

Shares of NYSE NEM traded down $0.68 during midday trading on Friday, reaching $42.73. 14,689,213 shares of the stock were exchanged, compared to its average volume of 14,308,821. The company has a 50 day simple moving average of $35.54 and a 200 day simple moving average of $36.95. The stock has a market capitalization of $49.26 billion, a P/E ratio of -16.00, a PEG ratio of 1.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.98 and a current ratio of 2.15. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating 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 firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, equities analysts expect that Newmont Co. will post 2.16 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.34%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. TD Securities raised their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday. Scotiabank decreased their price target 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. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada decreased their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Finally, BMO Capital Markets decreased their target price on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Newmont Profile

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.