Unigestion Holding SA reduced its position in Newmont Co. (NYSE:NEM) by 32.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,368 shares of the basic materials company’s stock after selling 56,382 shares during the quarter. Unigestion Holding SA’s holdings in Newmont were worth $6,304,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Eaton Vance Management raised its stake in Newmont by 7.4% in the 1st quarter. Eaton Vance Management now owns 60,984 shares of the basic materials company’s stock valued at $3,676,000 after purchasing an additional 4,178 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in Newmont by 82.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,232 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 2,824 shares during the last quarter. Aspire Private Capital LLC increased its stake in shares of Newmont by 3,592.9% in the 1st quarter. Aspire Private Capital LLC now owns 517 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 503 shares during the last quarter. FormulaFolio Investments LLC acquired a new stake in shares of Newmont in the 1st quarter worth $34,000. Finally, Advisory Services Network LLC increased its stake in shares of Newmont by 4.5% in the 1st quarter. Advisory Services Network LLC now owns 26,157 shares of the basic materials company’s stock worth $1,576,000 after acquiring an additional 1,127 shares during the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on NEM. National Bankshares cut their target price on Newmont from C$95.00 to C$92.00 and set an “outperform” rating for the company in a research note on Wednesday. National Bank Financial cut their target price on Newmont from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday. KeyCorp began coverage on Newmont in a research note on Friday, September 24th. They issued a “sector weight” rating for the company. Raymond James cut their target price on Newmont from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 29th. Finally, TD Securities cut their target price on Newmont from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Monday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Hold” and an average price target of $71.00.
Newmont stock traded down $0.02 during midday trading on Thursday, reaching $55.47. 3,601,194 shares of the stock traded hands, compared to its average volume of 6,417,626. The company has a 50-day simple moving average of $55.82 and a two-hundred day simple moving average of $61.00. Newmont Co. has a 12-month low of $53.03 and a 12-month high of $75.31. The firm has a market cap of $44.23 billion, a PE ratio of 21.92 and a beta of 0.23. The company has a current ratio of 2.67, a quick ratio of 2.31 and a debt-to-equity ratio of 0.24.
Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 28th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.28). Newmont had a net margin of 16.67% and a return on equity of 10.94%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business earned $0.86 earnings per share. The business’s revenue was down 8.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 28th. Investors of record on Thursday, December 9th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Wednesday, December 8th. Newmont’s dividend payout ratio (DPR) is 86.96%.
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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