Intellectus Partners LLC Sells 5,035 Shares of Newmont Co. (NYSE:NEM)

Intellectus Partners LLC lowered its position in shares of Newmont Co. (NYSE:NEM) by 7.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,773 shares of the basic materials company’s stock after selling 5,035 shares during the period. Intellectus Partners LLC’s holdings in Newmont were worth $2,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. Life Planning Partners Inc acquired a new position in shares of Newmont in the fourth quarter valued at approximately $26,000. TFC Financial Management Inc. increased its position in Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 499 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of Newmont during the third quarter valued at $26,000. CVA Family Office LLC bought a new position in shares of Newmont during the fourth quarter valued at $34,000. Finally, OFI Invest Asset Management acquired a new position in shares of Newmont during the third quarter worth $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEM. BMO Capital Markets lowered their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Citigroup decreased their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.75.

Newmont Stock Down 1.6 %

NYSE NEM traded down $0.68 during mid-day trading on Friday, hitting $42.73. The company’s stock had a trading volume of 14,689,213 shares, compared to its average volume of 14,308,821. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.32. The company’s 50 day simple moving average is $35.54 and its 200 day simple moving average is $36.94. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18. The firm has a market capitalization of $49.26 billion, a price-to-earnings ratio of -16.00, a PEG ratio of 1.09 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue was up 50.2% on a year-over-year basis. Analysts anticipate that Newmont Co. will post 2.16 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.