Hennion & Walsh Asset Management Inc. Cuts Stock Position in Newmont Co. (NYSE:NEM)

Hennion & Walsh Asset Management Inc. trimmed its holdings in Newmont Co. (NYSE:NEM – Free Report) by 36.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,247 shares of the basic materials company’s stock after selling 9,784 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Newmont were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NEM. Life Planning Partners Inc bought a new position in Newmont in the 4th quarter worth approximately $26,000. Manchester Capital Management LLC lifted its holdings in shares of Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after buying an additional 397 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Newmont during the fourth quarter worth $34,000. Advantage Trust Co purchased a new position in Newmont during the fourth quarter valued at $41,000. Finally, Rise Advisors LLC increased its holdings in Newmont by 2,373.2% in the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 973 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. Scotiabank raised their price objective on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Sanford C. Bernstein decreased their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. TD Securities raised their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $49.13.

Newmont Stock Performance

Shares of Newmont stock opened at $41.71 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $41.75 and its two-hundred day moving average is $38.10. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The company has a market capitalization of $48.10 billion, a PE ratio of -15.62, a price-to-earnings-growth ratio of 0.35 and a beta of 0.47.

Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, analysts expect that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio is presently -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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