Visionary Horizons LLC Lowers Position in Newmont Co. (NYSE:NEM)

Visionary Horizons LLC lessened its position in Newmont Co. (NYSE:NEM) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,655 shares of the basic materials company’s stock after selling 360 shares during the quarter. Visionary Horizons LLC’s holdings in Newmont were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Life Planning Partners Inc bought a new position in Newmont during the 4th quarter valued at approximately $26,000. Manchester Capital Management LLC increased its position in Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. CVA Family Office LLC bought a new position in Newmont during the 4th quarter valued at approximately $34,000. Rise Advisors LLC increased its position in Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after buying an additional 973 shares in the last quarter. Finally, Operose Advisors LLC increased its holdings in shares of Newmont by 156.8% in the 3rd quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 635 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $41.46 on Thursday. The firm has a market cap of $47.81 billion, a price-to-earnings ratio of -15.53, a price-to-earnings-growth ratio of 0.36 and a beta of 0.52. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $41.49 and a 200-day moving average price of $38.04. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The firm 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%. The business’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 earnings per share. As a group, equities research analysts predict that Newmont Co. will post 2.44 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is presently -37.45%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research analyst reports. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. BMO Capital Markets reduced their target price on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Scotiabank lifted their target price on 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 Newmont from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $50.00 in a report on Monday, June 17th. Finally, StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.13.

About Newmont

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.