MONECO Advisors LLC Acquires 1,317 Shares of Newmont Co. (NYSE:NEM)

MONECO Advisors LLC lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 8.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,471 shares of the basic materials company’s stock after purchasing an additional 1,317 shares during the period. MONECO Advisors LLC’s holdings in Newmont were worth $682,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in 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 valued at $7,041,000 after acquiring an additional 36,645 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Newmont by 34.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock valued at $53,009,000 after buying an additional 325,320 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Newmont by 13.5% during 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 purchasing an additional 94,692 shares during the period. Premier Fund Managers Ltd acquired a new stake in shares of Newmont during the fourth quarter worth about $1,276,000. Finally, KLCM Advisors Inc. lifted its stake in Newmont by 4.3% in the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after acquiring an additional 17,791 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NEM shares. Scotiabank boosted their target price on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets cut their target price on Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Sanford C. Bernstein lowered their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. Finally, UBS Group raised Newmont from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $50.00 in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $49.07.

Newmont Stock Up 0.2 %

Shares of NYSE NEM opened at $40.89 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $41.09 and its two-hundred day moving average price is $37.94. Newmont Co. has a one year low of $29.42 and a one year high of $45.92.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. On average, sell-side analysts anticipate that Newmont Co. will post 2.42 earnings per share for the current 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 given a dividend of $0.25 per share. 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 2.45%. Newmont’s payout ratio is -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.