Radnor Capital Management LLC Sells 2,833 Shares of Newmont Co. (NYSE:NEM)

Radnor Capital Management LLC decreased its position in shares of Newmont Co. (NYSE:NEM) by 12.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 19,794 shares of the basic materials company’s stock after selling 2,833 shares during the period. Radnor Capital Management LLC’s holdings in Newmont were worth $709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEM. Northern Trust Corp raised its holdings in Newmont by 5.7% in the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock worth $381,203,000 after purchasing an additional 554,513 shares in the last quarter. Syntax Advisors LLC boosted its stake in Newmont by 7.8% during the third quarter. Syntax Advisors LLC now owns 6,353 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 458 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Newmont in the 3rd quarter worth approximately $134,000. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Newmont by 104.9% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 77,357 shares of the basic materials company’s stock worth $2,858,000 after buying an additional 39,610 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Newmont by 507.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 628,259 shares of the basic materials company’s stock valued at $23,200,000 after buying an additional 524,825 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.2 %

NEM opened at $42.35 on Monday. The company’s 50 day moving average is $41.33 and its 200 day moving average is $38.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $45.92.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, June 4th. Newmont’s payout ratio is -37.45%.

Analysts Set New Price Targets

NEM has been the topic of a number of recent research reports. TD Securities increased their target price on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Sanford C. Bernstein reduced their price objective on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. Scotiabank lifted their target price on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $50.00 in a research report on Monday, June 17th. Finally, Citigroup lowered their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.