Skylands Capital LLC Sells 15,450 Shares of Newmont Co. (NYSE:NEM)

Skylands Capital LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 23.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,325 shares of the basic materials company’s stock after selling 15,450 shares during the quarter. Skylands Capital LLC’s holdings in Newmont were worth $2,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. boosted its holdings in shares of Newmont by 1.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 470,097 shares of the basic materials company’s stock valued at $17,370,000 after buying an additional 7,512 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Newmont by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 215,555 shares of the basic materials company’s stock worth $7,965,000 after purchasing an additional 8,444 shares during the period. Golden State Equity Partners grew its holdings in Newmont by 9.0% in the third quarter. Golden State Equity Partners now owns 11,756 shares of the basic materials company’s stock worth $434,000 after purchasing an additional 968 shares during the period. Ellsworth Advisors LLC bought a new position in shares of Newmont during the third quarter valued at approximately $406,000. Finally, Ridgewood Investments LLC lifted its holdings in shares of Newmont by 73.8% during the third quarter. Ridgewood Investments LLC now owns 28,012 shares of the basic materials company’s stock valued at $1,035,000 after purchasing an additional 11,895 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM traded down $0.20 during midday trading on Monday, hitting $42.53. 6,458,927 shares of the stock traded hands, compared to its average volume of 13,708,995. The firm has a market capitalization of $49.03 billion, a P/E ratio of -15.99, a PEG ratio of 1.09 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $50.18. 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 firm has a 50-day moving average of $35.54 and a two-hundred day moving average of $36.93.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s revenue was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, equities analysts forecast that Newmont Co. will post 2.16 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.35%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday. Scotiabank cut their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.