VisionPoint Advisory Group LLC Increases Stake in Newmont Co. (NYSE:NEM)

VisionPoint Advisory Group LLC increased its holdings in Newmont Co. (NYSE:NEM) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,775 shares of the basic materials company’s stock after acquiring an additional 744 shares during the quarter. VisionPoint Advisory Group LLC’s holdings in Newmont were worth $322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Grey Street Capital LLC grew its position in shares of Newmont by 0.4% in the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after purchasing an additional 289 shares in the last quarter. Reitz Capital Advisors LLC increased its stake in shares of Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after acquiring an additional 298 shares during the last quarter. Antonetti Capital Management LLC raised its holdings in shares of Newmont by 30.0% during the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 300 shares during the period. Sigma Planning Corp grew its stake in shares of Newmont by 4.6% in the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock valued at $261,000 after buying an additional 309 shares during the period. Finally, Jacobsen Capital Management grew its position in Newmont by 3.2% in the fourth quarter. Jacobsen Capital Management now owns 11,841 shares of the basic materials company’s stock worth $490,000 after acquiring an additional 368 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NEM. BMO Capital Markets reduced their price target on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Jefferies Financial Group initiated coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Citigroup dropped their price objective 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. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $48.35.

Newmont Price Performance

Shares of NYSE NEM opened at $42.49 on Friday. The stock has a market cap of $49.00 billion, a P/E ratio of -15.91, a P/E/G ratio of 0.99 and a beta of 0.48. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $47.65. The stock has a 50 day moving average of $37.53 and a two-hundred day moving average of $37.11. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the business earned $0.40 EPS. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, research analysts forecast that Newmont Co. will post 2.4 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is presently -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.