EP Wealth Advisors LLC Sells 1,943 Shares of Newmont Co. (NYSE:NEM)

EP Wealth Advisors LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,541 shares of the basic materials company’s stock after selling 1,943 shares during the quarter. EP Wealth Advisors LLC’s holdings in Newmont were worth $1,140,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NEM. State of Alaska Department of Revenue increased its position in shares of Newmont by 27.5% during the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after buying an additional 36,645 shares during the period. Principal Financial Group Inc. lifted its stake in Newmont by 34.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock worth $53,009,000 after purchasing an additional 325,320 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Newmont by 13.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after purchasing an additional 94,692 shares in the last quarter. Premier Fund Managers Ltd bought a new position in Newmont in the 4th quarter valued at $1,276,000. Finally, KLCM Advisors Inc. grew its position in shares of Newmont by 4.3% during the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after purchasing an additional 17,791 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $40.89 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $41.09 and a 200-day moving average price of $37.94. The company has a market cap of $47.15 billion, a price-to-earnings ratio of -15.31, a price-to-earnings-growth ratio of 0.35 and a beta of 0.52. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $45.92.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. As a group, equities analysts anticipate that Newmont Co. will post 2.42 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NEM shares. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. TD Securities boosted their price objective on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $50.00 in a report on Monday. Finally, Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.07.

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.