Skylands Capital LLC Cuts Holdings in Newmont Co. (NYSE:NEM)

Skylands Capital LLC cut its position in Newmont Co. (NYSE:NEM) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,325 shares of the basic materials company’s stock after selling 15,450 shares during the quarter. Skylands Capital LLC’s holdings in Newmont were worth $2,042,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Grey Street Capital LLC lifted its position in Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after acquiring an additional 289 shares during the last quarter. Reitz Capital Advisors LLC boosted its position in shares of Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after purchasing an additional 298 shares in the last quarter. Antonetti Capital Management LLC grew its stake in Newmont by 30.0% during the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after buying an additional 300 shares during the last quarter. Sigma Planning Corp grew its stake in Newmont by 4.6% during the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock worth $261,000 after buying an additional 309 shares during the last quarter. Finally, Hendley & Co. Inc. increased its holdings in shares of Newmont by 0.6% during the third quarter. Hendley & Co. Inc. now owns 51,974 shares of the basic materials company’s stock valued at $1,920,000 after acquiring an additional 324 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent analyst reports. Scotiabank lowered their target price 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. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. Jefferies Financial Group initiated coverage on Newmont in a research 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 for the company in a research note on Thursday, February 15th. Finally, Citigroup dropped their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Newmont Stock Performance

NEM stock traded down $0.20 during trading on Monday, hitting $42.53. 6,458,927 shares of the company traded hands, compared to its average volume of 13,708,995. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The company has a market cap of $49.03 billion, a PE ratio of -15.99, a P/E/G ratio of 1.09 and a beta of 0.50. The stock’s 50-day simple moving average is $35.54 and its 200 day simple moving average is $36.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90.

Newmont (NYSE:NEM) last posted 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 firm 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 business’s revenue was up 50.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. On average, equities analysts expect that Newmont Co. will post 2.16 earnings per share 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

About Newmont

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.