Avidian Wealth Solutions LLC Raises Position in Newmont Co. (NYSE:NEM)

Avidian Wealth Solutions LLC raised its holdings in shares of Newmont Co. (NYSE:NEM) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,201 shares of the basic materials company’s stock after purchasing an additional 963 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Newmont were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of NEM. National Bank of Canada FI grew its position in Newmont by 36.7% in the fourth quarter. National Bank of Canada FI now owns 2,356,986 shares of the basic materials company’s stock worth $96,416,000 after acquiring an additional 633,343 shares in the last quarter. AJOVista LLC purchased a new position in shares of Newmont during the fourth quarter valued at approximately $116,000. Sapient Capital LLC bought a new position in shares of Newmont during the fourth quarter valued at $8,885,000. Axxcess Wealth Management LLC lifted its stake in shares of Newmont by 208.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 48,014 shares of the basic materials company’s stock worth $1,987,000 after buying an additional 32,429 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in Newmont by 28.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 263,692 shares of the basic materials company’s stock valued at $10,914,000 after purchasing an additional 58,007 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 1.3 %

Shares of Newmont stock traded up $0.51 on Monday, reaching $41.17. 4,170,594 shares of the stock were exchanged, compared to its average volume of 13,518,152. The business has a 50 day moving average price of $36.40 and a two-hundred day moving average price of $36.97. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $49.08. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the business posted $0.40 EPS. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. As a group, analysts predict that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.43%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEM. 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 note on Thursday, February 8th. TD Securities boosted their price objective on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Argus cut Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.35.

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.