Newmont Co. (NYSE:NEM) Shares Sold by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC lowered its position in Newmont Co. (NYSE:NEM) by 11.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,294 shares of the basic materials company’s stock after selling 289 shares during the period. Atlas Capital Advisors LLC’s holdings in Newmont were worth $82,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NEM. Life Planning Partners Inc acquired a new position in shares of Newmont in the fourth quarter worth about $26,000. Manchester Capital Management LLC raised its position in shares of Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares during the period. CVA Family Office LLC acquired a new position in shares of Newmont in the fourth quarter worth about $34,000. Rise Advisors LLC raised its position in shares of Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 973 shares during the period. Finally, Operose Advisors LLC raised its position in shares of Newmont by 156.8% in the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 635 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $41.46 on Thursday. The firm has a 50 day simple moving average of $41.49 and a 200-day simple moving average of $38.04. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $45.92. 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 (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. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. Sell-side analysts anticipate that Newmont Co. will post 2.44 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. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Newmont’s payout ratio is currently -37.45%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEM. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. Citigroup reduced their price target 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. Bank of America upped their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets reduced their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group assumed coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.13.

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.