Newmont Corporation (NEM)
Silver, Gold, And Copper Breakout, Wall Street's Last Bear Throws In The Towel - Newmont (NYSE:NEM)
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Panagora Asset Management Inc. Buys 8,056 Shares of Newmont Co. (NYSE:NEM)
Panagora Asset Management Inc. grew its stake in Newmont Co. (NYSE:NEM – Free Report) by 14.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,856 shares of the basic materials company’s stock after purchasing an additional 8,056 shares during the quarter. Panagora Asset Management Inc.’s holdings in Newmont were worth $2,602,000 at the end of the most recent quarter. Other institutional investors have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in Newmont during the 4th quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in shares of Newmont during the fourth quarter valued at approximately $34,000. Operose Advisors LLC grew its stake in Newmont by 156.8% in the third quarter. Operose Advisors LLC now owns 1,040 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 635 shares during the period. Advantage Trust Co bought a new position in Newmont in the fourth quarter worth $41,000. Finally, Janiczek Wealth Management LLC lifted its position in Newmont by 805.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,132 shares of the basic materials company’s stock valued at $47,000 after buying an additional 1,007 shares during the period. 68.85% of the stock is currently owned by institutional investors. Wall Street Analysts Forecast Growth A number of research analysts recently issued reports on the stock. Scotiabank lowered their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. TD Securities upped their price target on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets dropped their target price on Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada cut their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Finally, Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Hold” and a consensus price target of $48.11. Read Our Latest Report on Newmont Newmont Stock Performance Shares of NEM opened at $43.74 on Monday. Newmont Co. has a 12-month low of $29.42 and a 12-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 business’s 50 day moving average is $38.46 and its 200 day moving average is $37.28. Newmont (NYSE:NEM – Get Free Report) last released its quarterly earnings data 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. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Equities research analysts expect that Newmont Co. will post 2.37 EPS for the current fiscal year. Newmont Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is -37.45%. Newmont Company 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. Read More Five stocks we like better than Newmont The Significance of Brokerage Rankings in Stock Selection JD’s Earnings Could Mean Chinese Stocks Making a Comeback Insider Trades May Not Tell You What You Think Canada Goose Flies Higher Driven By DTC Growth What is a Dividend Harvesting Strategy and How Can Investors Profit from it? CVS Health Stock Has a Silver Lining Called Value
