Lee Danner & Bass Inc. Sells 6,350 Shares of Newmont Co. (NYSE:NEM)

Lee Danner & Bass Inc. reduced its position in Newmont Co. (NYSE:NEM) by 17.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,634 shares of the basic materials company’s stock after selling 6,350 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Newmont were worth $1,227,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in Newmont by 27.5% in the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after purchasing an additional 36,645 shares during the period. Janney Montgomery Scott LLC increased its stake in Newmont by 22.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after acquiring an additional 26,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Newmont by 13.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after acquiring an additional 94,692 shares in the last quarter. KLCM Advisors Inc. boosted its position in shares of Newmont by 4.3% during the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after acquiring an additional 17,791 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Newmont by 70.5% during the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock worth $3,535,000 after purchasing an additional 35,303 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. TD Securities lowered their target price on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Scotiabank lowered their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada cut their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. Citigroup lowered their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, BMO Capital Markets cut their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Newmont has a consensus rating of “Hold” and an average price target of $50.89.

Newmont Stock Down 3.9 %

Shares of NEM stock opened at $37.48 on Tuesday. The business has a 50-day moving average of $34.90 and a 200 day moving average of $36.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period last year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Co. will post 1.98 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. Newmont’s dividend payout ratio is currently -42.02%.

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.