J.W. Cole Advisors Inc. Grows Position in Newmont Co. (NYSE:NEM)

J.W. Cole Advisors Inc. raised its holdings in shares of Newmont Co. (NYSE:NEM) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,788 shares of the basic materials company’s stock after acquiring an additional 378 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Newmont were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Life Planning Partners Inc bought a new stake in Newmont during the fourth quarter worth approximately $26,000. TFC Financial Management Inc. raised its stake in Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after buying an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in Newmont in the third quarter worth approximately $26,000. CVA Family Office LLC bought a new position in Newmont in the fourth quarter worth approximately $34,000. Finally, OFI Invest Asset Management acquired a new position in shares of Newmont during the third quarter worth $30,000. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 2.4 %

Shares of NYSE:NEM opened at $38.60 on Thursday. The company’s fifty day moving average price is $35.14 and its 200 day moving average price is $36.87. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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). The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities research analysts anticipate that Newmont Co. will post 1.97 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 yield of 2.59%. Newmont’s dividend payout ratio is presently -42.02%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BMO Capital Markets cut their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Jefferies Financial Group started coverage on shares of Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Citigroup cut their price objective on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Finally, Scotiabank cut their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.89.

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.