Blackston Financial Advisory Group LLC Takes $213,000 Position in Newmont Co. (NYSE:NEM)

Blackston Financial Advisory Group LLC purchased a new stake in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,149 shares of the basic materials company’s stock, valued at approximately $213,000.

Several other institutional investors have also made changes to their positions in NEM. Vanguard Group Inc. lifted its holdings in shares of Newmont by 17.6% during the 3rd quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock valued at $3,051,291,000 after buying an additional 12,360,775 shares during the last quarter. Norges Bank acquired a new stake in Newmont in the 4th quarter worth approximately $332,897,000. BlackRock Inc. lifted its holdings in Newmont by 4.6% in the 2nd quarter. BlackRock Inc. now owns 99,433,731 shares of the basic materials company’s stock worth $4,241,843,000 after purchasing an additional 4,409,771 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Newmont by 103.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock worth $356,749,000 after purchasing an additional 2,281,418 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Newmont by 61.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock worth $196,706,000 after purchasing an additional 2,019,591 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $41.26, for a total value of $226,930.00. Following the completion of the sale, the chief operating officer now directly owns 54,251 shares in the company, valued at $2,238,396.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NEM shares. UBS Group dropped their price target on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 13th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Wednesday, January 3rd. Royal Bank of Canada dropped their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Finally, Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Hold” and a consensus price target of $52.97.

Newmont Trading Up 3.7 %

Newmont stock opened at $35.27 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. The business’s fifty day moving average is $33.51 and its two-hundred day moving average is $36.95. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $52.76.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the company earned $0.44 EPS. The company’s revenue was up 23.7% compared to the same quarter last year. On average, equities analysts forecast that Newmont Co. will post 1.88 EPS for the current year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 5th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.84%. Newmont’s dividend payout ratio is presently -42.02%.

Newmont Company 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.