Newmont Co. (NYSE:NEM) Shares Sold by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,294 shares of the basic materials company’s stock after selling 289 shares during the period. Atlas Capital Advisors LLC’s holdings in Newmont were worth $82,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. Vanguard Group Inc. raised its position in shares of Newmont by 43.8% in the fourth quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock valued at $4,915,059,000 after buying an additional 36,170,995 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Newmont by 57.2% in the fourth quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock valued at $2,122,913,000 after buying an additional 18,664,614 shares during the last quarter. Norges Bank acquired a new position in shares of Newmont in the fourth quarter valued at approximately $604,516,000. Charles Schwab Investment Management Inc. raised its position in shares of Newmont by 44.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock valued at $1,019,813,000 after buying an additional 7,635,657 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Newmont by 29.9% in the fourth quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock valued at $983,267,000 after buying an additional 5,475,155 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets lowered their target price on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. TD Securities boosted 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, Scotiabank boosted their target price on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $49.13.

Newmont Price Performance

Shares of NEM stock opened at $41.46 on Thursday. The firm has a fifty day simple moving average of $41.49 and a 200-day simple moving average of $38.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Equities analysts expect that Newmont Co. will post 2.44 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

About Newmont

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.