Stack Financial Management Inc Trims Stock Position in Newmont Co. (NYSE:NEM)

Stack Financial Management Inc cut its holdings in shares of Newmont Co. (NYSE:NEM) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 301,849 shares of the basic materials company’s stock after selling 9,161 shares during the period. Stack Financial Management Inc’s holdings in Newmont were worth $12,494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Grey Street Capital LLC raised its position in Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after acquiring an additional 289 shares during the last quarter. Reitz Capital Advisors LLC boosted its position in shares of Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after acquiring an additional 298 shares during the period. Antonetti Capital Management LLC increased its stake in shares of Newmont by 30.0% in the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after buying an additional 300 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of Newmont by 4.6% during the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock valued at $261,000 after purchasing an additional 309 shares in the last quarter. Finally, Hendley & Co. Inc. increased its holdings in shares of Newmont by 0.6% during the 3rd quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock worth $1,920,000 after acquiring an additional 324 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NEM traded down $0.41 during midday trading on Friday, reaching $43.00. The stock had a trading volume of 7,665,420 shares, compared to its average volume of 13,708,907. The firm has a 50 day simple moving average of $35.35 and a 200-day simple moving average of $36.92. Newmont Co. has a one year low of $29.42 and a one year high of $50.18. The firm has a market cap of $49.57 billion, a PE ratio of -17.88, a P/E/G ratio of 1.07 and a beta of 0.50. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last posted 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. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company’s revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Newmont Co. will post 1.99 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders 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 dividend yield of 2.33%. The ex-dividend date is Tuesday, June 4th. Newmont’s payout ratio is currently -42.02%.

Analysts Set New Price Targets

A number of research firms recently commented on NEM. Citigroup lowered their price target on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. BMO Capital Markets decreased their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Finally, Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Hold” and an average price target 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.