Fifth Third Wealth Advisors LLC acquired a new stake in Newmont Co. (NYSE:NEM – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,540 shares of the basic materials company’s stock, valued at approximately $234,000.
A number of other institutional investors also recently modified their holdings of NEM. Buckley Wealth Management LLC lifted its position in shares of Newmont by 2.8% during the 1st quarter. Buckley Wealth Management LLC now owns 63,715 shares of the basic materials company’s stock valued at $2,284,000 after acquiring an additional 1,750 shares during the period. 180 Wealth Advisors LLC acquired a new position in shares of Newmont during the 1st quarter valued at $207,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Newmont by 13.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock valued at $5,004,000 after acquiring an additional 16,902 shares during the period. Viking Fund Management LLC acquired a new position in shares of Newmont during the 1st quarter valued at $1,075,000. Finally, S.A. Mason LLC lifted its position in shares of Newmont by 23.9% during the 1st quarter. S.A. Mason LLC now owns 2,955 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 570 shares during the period. 68.85% of the stock is owned by institutional investors.
Newmont Stock Performance
NEM traded up $0.03 during trading on Friday, hitting $41.87. 10,252,462 shares of the company traded hands, compared to its average volume of 11,892,463. The firm has a market cap of $48.28 billion, a P/E ratio of -15.70, a price-to-earnings-growth ratio of 0.35 and a beta of 0.52. The stock’s fifty day moving average is $41.55 and its 200 day moving average is $38.06. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. Newmont Co. has a one year low of $29.42 and a one year high of $45.92.
Newmont Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. Newmont’s dividend payout ratio is presently -37.45%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $50.00 in a research report on Monday, June 17th. 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 report on Thursday, April 4th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. TD Securities upped their price objective on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.13.
Check Out Our Latest Stock Report on Newmont
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.
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