Uncommon Cents Investing LLC Acquires 2,410 Shares of Newmont Co. (NYSE:NEM)

Uncommon Cents Investing LLC lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 18.9% during the 4th quarter, Holdings Channel reports. The firm owned 15,175 shares of the basic materials company’s stock after purchasing an additional 2,410 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Newmont were worth $628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Wealth Management LLC bought a new position in Newmont in the fourth quarter worth approximately $25,000. TFC Financial Management Inc. boosted its holdings in Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in Newmont in the third quarter worth approximately $26,000. Bartlett & Co. LLC bought a new position in Newmont in the third quarter worth approximately $28,000. Finally, OFI Invest Asset Management bought a new position in Newmont in the third quarter worth approximately $30,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, COO Robert D. Atkinson sold 5,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $41.26, for a total value of $226,930.00. Following the transaction, the chief operating officer now directly owns 54,251 shares of the company’s stock, valued at approximately $2,238,396.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NEM shares. TD Securities cut their price target on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. UBS Group lowered their price objective on Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, December 13th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. One investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.97.

Newmont Stock Up 1.7 %

Shares of NYSE:NEM traded up $0.59 during trading on Thursday, hitting $35.84. The stock had a trading volume of 14,428,337 shares, compared to its average volume of 13,389,644. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $52.76. The company has a market capitalization of $41.32 billion, a PE ratio of -15.06, a PEG ratio of 2.91 and a beta of 0.49. The firm’s fifty day moving average is $33.52 and its 200 day moving average is $36.94. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s quarterly revenue was up 23.7% on a year-over-year basis. Analysts anticipate that Newmont Co. will post 1.88 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.79%. Newmont’s payout ratio is -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.