Larson Financial Group LLC Has $283,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Larson Financial Group LLC cut its holdings in Newmont Co. (NYSE:NEM) by 41.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,847 shares of the basic materials company’s stock after selling 4,919 shares during the quarter. Larson Financial Group LLC’s holdings in Newmont were worth $283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Life Planning Partners Inc acquired a new position in shares of Newmont in the 4th quarter valued at approximately $26,000. TFC Financial Management Inc. boosted its position in Newmont by 242.2% during the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Newmont during the 3rd quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in Newmont during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management acquired a new position in Newmont during the 3rd quarter worth approximately $30,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup reduced their price target 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 assumed coverage on Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Royal Bank of Canada dropped their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.89.

Newmont Stock Up 0.7 %

NEM stock opened at $37.71 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market capitalization of $43.47 billion, a price-to-earnings ratio of -15.84, a PEG ratio of 1.01 and a beta of 0.50. The business’s fifty day moving average price is $35.01 and its two-hundred day moving average price is $36.86. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18.

Newmont (NYSE:NEM) last posted its quarterly earnings data 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). The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. On average, equities analysts anticipate that Newmont Co. will post 1.98 earnings per share for the current year.

Newmont Cuts Dividend

The business 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. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is currently -42.02%.

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.