Wealth Enhancement Advisory Services LLC Acquires 16,902 Shares of Newmont Co. (NYSE:NEM)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Newmont Co. (NYSE:NEM) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,631 shares of the basic materials company’s stock after acquiring an additional 16,902 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Newmont were worth $5,004,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Life Planning Partners Inc acquired a new position in shares of Newmont during the fourth quarter valued at about $26,000. Manchester Capital Management LLC raised its holdings in Newmont by 171.9% in the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 397 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $34,000. Rise Advisors LLC grew its holdings in shares of Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 973 shares in the last quarter. Finally, Advantage Trust Co bought a new stake in shares of Newmont during the fourth quarter valued at approximately $41,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NEM shares. BMO Capital Markets decreased their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Citigroup dropped 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. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $50.00 in a report on Monday, June 17th. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Finally, Sanford C. Bernstein decreased their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.13.

Newmont Price Performance

Newmont stock opened at $41.65 on Tuesday. The firm has a market cap of $48.03 billion, a P/E ratio of -15.60, a P/E/G ratio of 0.35 and a beta of 0.47. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The business’s fifty day moving average is $41.67 and its two-hundred day moving average is $38.10.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue was up 50.2% on a year-over-year basis. Equities research analysts forecast that Newmont Co. will post 2.48 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.40%. Newmont’s dividend payout ratio is currently -37.45%.

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.