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

Hennion & Walsh Asset Management Inc. lessened its stake in Newmont Co. (NYSE:NEM) by 36.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,247 shares of the basic materials company’s stock after selling 9,784 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Newmont were worth $618,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. State of Alaska Department of Revenue raised its holdings in shares of Newmont by 27.5% during the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after acquiring an additional 36,645 shares during the period. American International Group Inc. raised its stake in Newmont by 24.8% during the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after purchasing an additional 58,217 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Newmont by 34.1% during the 4th 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. increased its holdings in shares of Newmont by 13.5% during the 4th 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 during the 4th quarter worth approximately $1,276,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent analyst reports. TD Securities raised their price target on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Citigroup cut their price target 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. Sanford C. Bernstein cut their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Scotiabank lifted 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 analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.13.

Newmont Stock Performance

Shares of NEM 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. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The stock has a market capitalization of $48.10 billion, a PE ratio of -15.62, a P/E/G ratio of 0.35 and a beta of 0.47. The firm has a 50 day moving average of $41.75 and a two-hundred day moving average of $38.10.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm’s revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. On average, research analysts predict that Newmont Co. will post 2.48 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

Newmont Company 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.