6,319 Shares in Newmont Co. (NYSE:NEM) Purchased by Wealth Alliance

Wealth Alliance acquired a new position in Newmont Co. (NYSE:NEM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,319 shares of the basic materials company’s stock, valued at approximately $262,000.

Other institutional investors also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new stake in Newmont in the 4th quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in Newmont in the 4th quarter worth about $26,000. Quarry LP boosted its holdings in shares of Newmont by 1,462.5% during the 1st quarter. Quarry LP now owns 625 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 585 shares during the last quarter. TFC Financial Management Inc. boosted its holdings in shares of Newmont by 242.2% during the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 499 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Newmont during the 3rd quarter worth approximately $26,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 0.0 %

Shares of NYSE NEM opened at $38.55 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $50.18. The business’s 50 day moving average is $34.70 and its two-hundred day moving average is $36.81. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of -16.20, a PEG ratio of 1.02 and a beta of 0.50.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. Research analysts predict that Newmont Co. will post 2.01 EPS for the current year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. Newmont’s payout ratio is currently -42.02%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NEM shares. Jefferies Financial Group started coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Scotiabank lowered their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. TD Securities lowered their target price on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Finally, BMO Capital Markets reduced their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Hold” and a consensus target price of $51.97.

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.