MONECO Advisors LLC Grows Position in Newmont Co. (NYSE:NEM)

MONECO Advisors LLC raised its position in shares of Newmont Co. (NYSE:NEM) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,666 shares of the basic materials company’s stock after buying an additional 1,315 shares during the quarter. MONECO Advisors LLC’s holdings in Newmont were worth $690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingswood Wealth Advisors LLC bought a new stake in shares of Newmont during the 3rd quarter worth approximately $372,000. Pinnacle Associates Ltd. lifted its stake in shares of Newmont by 15.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 12,753 shares of the basic materials company’s stock worth $471,000 after acquiring an additional 1,721 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in shares of Newmont by 18.1% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 11,093 shares of the basic materials company’s stock worth $410,000 after acquiring an additional 1,697 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Newmont by 18.3% during the 3rd quarter. Raymond James & Associates now owns 530,565 shares of the basic materials company’s stock worth $19,604,000 after acquiring an additional 82,115 shares during the last quarter. Finally, Stratos Wealth Advisors LLC bought a new stake in Newmont during the 3rd quarter valued at $1,729,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.4 %

Shares of NEM stock opened at $40.80 on Wednesday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18. The stock’s fifty day moving average price is $35.86 and its 200 day moving average price is $36.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. Sell-side analysts anticipate that Newmont Co. will post 2.16 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.45%. Newmont’s payout ratio is presently -37.45%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NEM shares. Citigroup decreased their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price for the company. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada decreased their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus 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.