Salem Investment Counselors Inc. Has $840,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Salem Investment Counselors Inc. lessened its holdings in Newmont Co. (NYSE:NEMFree Report) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,432 shares of the basic materials company’s stock after selling 508 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Newmont were worth $840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State of Alaska Department of Revenue lifted its position in shares of Newmont by 27.5% in the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after buying an additional 36,645 shares during the last quarter. American International Group Inc. lifted its position in shares of Newmont by 24.8% in the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after buying an additional 58,217 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Newmont by 34.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock worth $53,009,000 after buying an additional 325,320 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Newmont by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after buying an additional 94,692 shares during the last quarter. Finally, Premier Fund Managers Ltd acquired a new stake in shares of Newmont in the fourth quarter worth about $1,276,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Securities lifted their price objective on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $50.00 in a research note on Monday, June 17th. Sanford C. Bernstein lowered their price objective 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. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Citigroup lowered their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.07.

View Our Latest Stock Report on NEM

Newmont Stock Performance

Shares of NYSE:NEM traded down $0.55 during trading on Friday, reaching $42.26. 16,655,639 shares of the stock were exchanged, compared to its average volume of 6,810,263. The firm has a market cap of $48.73 billion, a PE ratio of -15.83, a PEG ratio of 0.37 and a beta of 0.52. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $45.92. The stock has a 50-day moving average price of $41.33 and a 200-day moving average price of $38.01.

Newmont (NYSE:NEMGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 50.2% on a year-over-year basis. Research analysts expect that Newmont Co. will post 2.42 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is -37.45%.

About Newmont

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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