Royal Fund Management LLC Has $3.95 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Royal Fund Management LLC reduced its stake in Newmont Co. (NYSE:NEM) by 16.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 95,384 shares of the basic materials company’s stock after selling 18,482 shares during the period. Royal Fund Management LLC’s holdings in Newmont were worth $3,948,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AJOVista LLC acquired a new position in shares of Newmont in the 4th quarter worth approximately $116,000. Sapient Capital LLC bought a new stake in Newmont during the fourth quarter valued at $8,885,000. Axxcess Wealth Management LLC grew its holdings in Newmont by 208.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 48,014 shares of the basic materials company’s stock worth $1,987,000 after acquiring an additional 32,429 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in shares of Newmont by 28.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 263,692 shares of the basic materials company’s stock worth $10,914,000 after acquiring an additional 58,007 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Newmont by 242.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,532 shares of the basic materials company’s stock valued at $146,000 after purchasing an additional 2,500 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on NEM. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Jefferies Financial Group began coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. TD Securities increased their target price on shares of 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 reduced their price target on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Royal Bank of Canada dropped their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.35.

Newmont Stock Down 1.0 %

NYSE NEM traded down $0.39 during trading hours on Friday, hitting $40.66. The company’s stock had a trading volume of 7,306,324 shares, compared to its average volume of 14,411,746. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $36.40 and its two-hundred day simple moving average is $37.02. The company has a market capitalization of $46.89 billion, a PE ratio of -15.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Research analysts anticipate that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Dividend Announcement

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 is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. Newmont’s payout ratio is -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.