Fifth Third Wealth Advisors LLC Takes Position in Newmont Co. (NYSE:NEM)

Fifth Third Wealth Advisors LLC acquired a new stake in Newmont Co. (NYSE:NEM) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,540 shares of the basic materials company’s stock, valued at approximately $234,000.

A number of other institutional investors also recently modified their holdings of NEM. Buckley Wealth Management LLC lifted its position in shares of Newmont by 2.8% during the 1st quarter. Buckley Wealth Management LLC now owns 63,715 shares of the basic materials company’s stock valued at $2,284,000 after acquiring an additional 1,750 shares during the period. 180 Wealth Advisors LLC acquired a new position in shares of Newmont during the 1st quarter valued at $207,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Newmont by 13.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock valued at $5,004,000 after acquiring an additional 16,902 shares during the period. Viking Fund Management LLC acquired a new position in shares of Newmont during the 1st quarter valued at $1,075,000. Finally, S.A. Mason LLC lifted its position in shares of Newmont by 23.9% during the 1st quarter. S.A. Mason LLC now owns 2,955 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 570 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

NEM traded up $0.03 during trading on Friday, hitting $41.87. 10,252,462 shares of the company traded hands, compared to its average volume of 11,892,463. The firm has a market cap of $48.28 billion, a P/E ratio of -15.70, a price-to-earnings-growth ratio of 0.35 and a beta of 0.52. The stock’s fifty day moving average is $41.55 and its 200 day moving average is $38.06. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. Newmont Co. has a one year low of $29.42 and a one year high of $45.92.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, equities analysts predict that Newmont Co. will post 2.48 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. Newmont’s dividend payout ratio is presently -37.45%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $50.00 in a research report on Monday, June 17th. Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. TD Securities upped their price objective on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.13.

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.