Intellectus Partners LLC Sells 5,035 Shares of Newmont Co. (NYSE:NEM)

Intellectus Partners LLC cut its stake in shares of Newmont Co. (NYSE:NEM) by 7.9% in the 4th quarter, HoldingsChannel reports. The fund owned 58,773 shares of the basic materials company’s stock after selling 5,035 shares during the quarter. Intellectus Partners LLC’s holdings in Newmont were worth $2,433,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Vanguard Group Inc. grew its holdings in shares of Newmont by 17.6% in the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after purchasing an additional 12,360,775 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Newmont by 61.1% in 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Newmont by 36.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company’s stock valued at $135,435,000 after acquiring an additional 868,804 shares during the period. California Public Employees Retirement System raised its stake in shares of Newmont by 14.3% during the fourth quarter. California Public Employees Retirement System now owns 5,362,838 shares of the basic materials company’s stock valued at $221,968,000 after acquiring an additional 671,110 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Newmont by 3,044.9% during the fourth quarter. International Assets Investment Management LLC now owns 612,003 shares of the basic materials company’s stock worth $25,331,000 after purchasing an additional 592,543 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a report on Friday. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. TD Securities boosted 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 assumed coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Scotiabank cut their target price 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. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Newmont Stock Down 1.6 %

Shares of Newmont stock traded down $0.68 during midday trading on Friday, hitting $42.73. The company had a trading volume of 14,689,213 shares, compared to its average volume of 14,308,821. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.18. The stock has a market capitalization of $49.26 billion, a P/E ratio of -16.00, a P/E/G ratio of 1.09 and a beta of 0.50. The company has a 50 day moving average of $35.54 and a 200 day moving average of $36.94. 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 (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, equities analysts predict that Newmont Co. will post 2.16 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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 of this dividend is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. Newmont’s payout ratio is currently -37.45%.

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.