6,175 Shares in Newmont Co. (NYSE:NEM) Acquired by Balentine LLC

Balentine LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,175 shares of the basic materials company’s stock, valued at approximately $256,000.

Other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. raised its stake in shares of Newmont by 25.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 16,696 shares of the basic materials company’s stock worth $691,000 after purchasing an additional 3,387 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Newmont by 26.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 125,032 shares of the basic materials company’s stock worth $5,175,000 after purchasing an additional 25,871 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Newmont by 46.7% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,500 shares of the basic materials company’s stock worth $1,511,000 after purchasing an additional 11,616 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Newmont during the fourth quarter valued at approximately $1,609,000. Finally, Firetrail Investments PTY Ltd. purchased a new stake in shares of Newmont during the fourth quarter valued at approximately $4,586,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEM. BMO Capital Markets decreased their price target on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup decreased their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. TD Securities raised their target price on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, National Bank Financial downgraded Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. 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, the stock currently has a consensus rating of “Hold” and an average price target of $48.04.

Newmont Trading Down 3.7 %

NYSE:NEM opened at $42.39 on Thursday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $45.92. The stock has a fifty day moving average of $39.01 and a 200 day moving average of $37.39. 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 quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities analysts forecast that Newmont Co. will post 2.37 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. Newmont’s payout ratio is -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.