Buffington Mohr McNeal Has $407,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Buffington Mohr McNeal decreased its position in shares of Newmont Co. (NYSE:NEM) by 37.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,835 shares of the basic materials company’s stock after selling 5,775 shares during the period. Buffington Mohr McNeal’s holdings in Newmont were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Compass Wealth Management LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $25,000. TFC Financial Management Inc. boosted its position in Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after buying an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Newmont in the third quarter valued at approximately $26,000. Life Planning Partners Inc acquired a new stake in Newmont in the fourth quarter valued at approximately $26,000. Finally, Bartlett & Co. LLC acquired a new stake in Newmont in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NEM. Citigroup cut their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. TD Securities dropped their price target on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. Scotiabank dropped 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 note on Wednesday, February 28th. Finally, BMO Capital Markets dropped their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.97.

Newmont Stock Down 0.3 %

Shares of NYSE NEM traded down $0.13 during mid-day trading on Tuesday, reaching $38.31. 6,863,906 shares of the company’s stock traded hands, compared to its average volume of 13,633,619. The stock has a market cap of $44.16 billion, a P/E ratio of -16.15, a PEG ratio of 1.06 and a beta of 0.50. The business has a 50-day simple moving average of $34.41 and a 200 day simple moving average of $36.78. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, analysts expect that Newmont Co. will post 1.97 EPS for the current fiscal year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

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.