Newmont Co. (NYSE:NEM) Shares Bought by Cox Capital Mgt LLC

Cox Capital Mgt LLC lifted its position in Newmont Co. (NYSE:NEMFree Report) by 42.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,981 shares of the basic materials company’s stock after acquiring an additional 22,809 shares during the quarter. Newmont accounts for approximately 1.7% of Cox Capital Mgt LLC’s holdings, making the stock its 25th largest position. Cox Capital Mgt LLC’s holdings in Newmont were worth $2,723,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc acquired a new position in shares of Newmont in the 4th quarter worth approximately $26,000. Manchester Capital Management LLC boosted its position in Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares during the period. CVA Family Office LLC acquired a new position in Newmont during the 4th quarter worth $34,000. Advantage Trust Co acquired a new position in Newmont during the 4th quarter worth $41,000. Finally, Rise Advisors LLC raised its stake in shares of Newmont by 2,373.2% in the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after buying an additional 973 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup lowered their target price on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $50.00 in a research note on Monday. Finally, BMO Capital Markets lowered their target price on Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $49.07.

Check Out Our Latest Stock Analysis on NEM

Newmont Price Performance

Shares of NEM traded down $0.22 during mid-day trading on Friday, reaching $42.59. The company had a trading volume of 4,277,945 shares, compared to its average volume of 11,983,836. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The company’s 50-day moving average is $41.26 and its 200-day moving average is $38.01. The company has a market capitalization of $49.11 billion, a P/E ratio of -16.03, a P/E/G ratio of 0.36 and a beta of 0.52.

Newmont (NYSE:NEMGet Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (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 business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the firm posted $0.40 EPS. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Co. will post 2.42 EPS for the current year.

Newmont Dividend Announcement

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

Newmont Profile

(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.

See Also

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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