Newmont Co. (NYSE:NEM) Shares Sold by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC lowered its stake in Newmont Co. (NYSE:NEM) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 303,650 shares of the basic materials company’s stock after selling 19,990 shares during the quarter. Newmont comprises approximately 2.7% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 16th biggest holding. Euro Pacific Asset Management LLC’s holdings in Newmont were worth $12,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Newmont by 17.6% during 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 acquiring an additional 12,360,775 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Newmont by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock worth $628,278,000 after acquiring an additional 483,377 shares during the period. Northern Trust Corp grew its holdings in Newmont by 5.7% during the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock worth $381,203,000 after acquiring an additional 554,513 shares during the period. Morgan Stanley grew its holdings in Newmont by 1.0% during the fourth quarter. Morgan Stanley now owns 9,135,415 shares of the basic materials company’s stock worth $431,192,000 after acquiring an additional 94,108 shares during the period. Finally, Invesco Ltd. grew its holdings in Newmont by 5.8% during the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock worth $289,232,000 after acquiring an additional 428,537 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NEM shares. Jefferies Financial Group started coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Scotiabank lowered their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets lowered their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. StockNews.com lowered Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Finally, Argus lowered Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.97.

Newmont Stock Performance

Shares of NYSE:NEM remained flat at $38.56 on Thursday. The stock had a trading volume of 3,755,941 shares, compared to its average volume of 13,534,038. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The business has a 50-day moving average of $34.59 and a 200 day moving average of $36.80. The firm has a market capitalization of $44.45 billion, a P/E ratio of -16.20, a PEG ratio of 1.00 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts predict that Newmont Co. will post 2.02 EPS for the current year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.59%. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

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.