SVB Wealth LLC Buys 2,593 Shares of Newmont Co. (NYSE:NEM)

SVB Wealth LLC grew its stake in Newmont Co. (NYSE:NEM) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,559 shares of the basic materials company’s stock after purchasing an additional 2,593 shares during the period. SVB Wealth LLC’s holdings in Newmont were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NEM. Flputnam Investment Management Co. acquired a new position in shares of Newmont in the 4th quarter worth approximately $224,000. Keel Point LLC boosted its holdings in shares of Newmont by 16.6% in the 4th quarter. Keel Point LLC now owns 14,129 shares of the basic materials company’s stock worth $585,000 after acquiring an additional 2,010 shares in the last quarter. Oak Family Advisors LLC boosted its holdings in shares of Newmont by 3.5% in the 4th quarter. Oak Family Advisors LLC now owns 36,857 shares of the basic materials company’s stock worth $1,526,000 after acquiring an additional 1,239 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in shares of Newmont by 28.5% in the 4th quarter. Sentry Investment Management LLC now owns 5,951 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 1,319 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Newmont by 32.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,312,494 shares of the basic materials company’s stock worth $54,324,000 after acquiring an additional 324,382 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of Newmont stock opened at $39.03 on Friday. The firm has a fifty day moving average of $34.82 and a two-hundred day moving average of $36.83. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, equities research analysts forecast that Newmont Co. will post 2.01 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is currently -42.02%.

Analyst Ratings Changes

NEM has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. BMO Capital Markets reduced their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Scotiabank reduced their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, TD Securities reduced their price objective on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.97.

Newmont 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.