Buffington Mohr McNeal Sells 5,775 Shares of Newmont Co. (NYSE:NEM)

Buffington Mohr McNeal lessened its position in Newmont Co. (NYSE:NEM) by 37.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,835 shares of the basic materials company’s stock after selling 5,775 shares during the period. Buffington Mohr McNeal’s holdings in Newmont were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. Blair William & Co. IL lifted its position in shares of Newmont by 14.8% in the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after purchasing an additional 5,484 shares during the period. Sei Investments Co. lifted its position in shares of Newmont by 19.3% in the 1st quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock worth $5,219,000 after purchasing an additional 10,692 shares during the period. Cetera Investment Advisers lifted its position in shares of Newmont by 46.9% in the 1st quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock worth $2,217,000 after purchasing an additional 8,915 shares during the period. Baird Financial Group Inc. lifted its position in Newmont by 7.2% during the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after acquiring an additional 39,765 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in Newmont by 25.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 278 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NEM shares. Royal Bank of Canada lowered their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. BMO Capital Markets lowered their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Finally, Citigroup lowered 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Newmont currently has an average rating of “Hold” and a consensus price target of $51.97.

Newmont Stock Down 0.3 %

Newmont stock traded down $0.13 during trading hours on Tuesday, hitting $38.31. The stock had a trading volume of 6,863,906 shares, compared to its average volume of 13,633,619. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $44.16 billion, a P/E ratio of -16.15, a price-to-earnings-growth ratio of 1.06 and a beta of 0.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The stock’s 50-day moving average price is $34.41 and its 200-day moving average price is $36.78.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 1.97 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.61%. Newmont’s dividend payout ratio is presently -42.02%.

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.