Capital Asset Advisory Services LLC Decreases Stock Position in Newmont Co. (NYSE:NEM)

Capital Asset Advisory Services LLC lessened its position in Newmont Co. (NYSE:NEM) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,736 shares of the basic materials company’s stock after selling 2,381 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Newmont were worth $545,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new position in Newmont during the fourth quarter worth approximately $26,000. Manchester Capital Management LLC raised its position in Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 397 shares during the period. CVA Family Office LLC purchased a new stake in Newmont in the fourth quarter valued at $34,000. Rise Advisors LLC raised its position in Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 973 shares during the period. Finally, Operose Advisors LLC raised its position in Newmont by 156.8% in the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 635 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.1 %

NEM opened at $41.87 on Friday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $45.92. The stock has a market capitalization of $48.28 billion, a price-to-earnings ratio of -15.68, a PEG ratio of 0.35 and a beta of 0.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The business has a fifty day moving average price of $41.67 and a 200 day moving average price of $38.11.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $0.40 EPS. Sell-side analysts expect that Newmont Co. will post 2.48 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.39%. Newmont’s dividend payout ratio is currently -37.45%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $50.00 in a research report on Monday, June 17th. Sanford C. Bernstein reduced their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. Bank of America lifted their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets dropped their price objective on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Finally, BNP Paribas raised Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.