Wealth Enhancement Advisory Services LLC Raises Stake in Newmont Co. (NYSE:NEM)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Newmont Co. (NYSE:NEM) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,631 shares of the basic materials company’s stock after acquiring an additional 16,902 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Newmont were worth $5,004,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NEM. Grey Street Capital LLC raised its position in Newmont by 0.4% in the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after purchasing an additional 289 shares during the period. Moody National Bank Trust Division grew its stake in shares of Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after buying an additional 296 shares during the last quarter. Reitz Capital Advisors LLC increased its holdings 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 worth $1,166,000 after buying an additional 298 shares during the period. Berkeley Capital Partners LLC lifted its stake in shares of Newmont by 5.6% in the 4th quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after acquiring an additional 318 shares during the last quarter. Finally, Crestmont Private Wealth LLC boosted its holdings in Newmont by 4.9% during the 1st quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 319 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 0.5 %

NYSE:NEM opened at $41.65 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The firm’s 50-day moving average price is $41.67 and its 200-day moving average price is $38.10. The company has a market capitalization of $48.03 billion, a PE ratio of -15.60, a P/E/G ratio of 0.35 and a beta of 0.47. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $45.92.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share 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 business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The business’s revenue was up 50.2% compared to the same quarter last year. On average, equities analysts predict that Newmont Co. will post 2.48 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.40%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NEM shares. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. Bank of America raised their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $50.00 in a research note on Monday, June 17th. Finally, StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.13.

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.