Newmont Co. (NYSE:NEM) Shares Acquired by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC lifted its stake in shares of Newmont Co. (NYSE:NEM) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,201 shares of the basic materials company’s stock after acquiring an additional 963 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Newmont were worth $505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Newmont by 27.5% in the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after acquiring an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after purchasing an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Newmont by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after buying an additional 94,692 shares during the period. KLCM Advisors Inc. grew its holdings in shares of Newmont by 4.3% during the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after buying an additional 17,791 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Newmont by 70.5% during the 4th quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock worth $3,535,000 after acquiring an additional 35,303 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM traded up $0.51 on Monday, reaching $41.17. 4,170,594 shares of the stock traded hands, compared to its average volume of 13,518,152. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $49.08. The stock’s 50-day moving average price is $36.40 and its 200-day moving average price is $36.97. 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 released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS 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 company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, research analysts anticipate that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders 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 dividend yield of 2.43%. Newmont’s payout ratio is presently -37.45%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Securities increased their price target on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. BMO Capital Markets cut their target price on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Scotiabank lowered their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $48.35.

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.