Newmont Co. (NYSE:NEM) Shares Sold by Telos Capital Management Inc.

Telos Capital Management Inc. decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 95.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,940 shares of the basic materials company’s stock after selling 100,893 shares during the quarter. Telos Capital Management Inc.’s holdings in Newmont were worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Compass Wealth Management LLC acquired a new position in Newmont in the fourth quarter valued at $25,000. TFC Financial Management Inc. boosted its holdings in Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Newmont in the third quarter valued at $26,000. Life Planning Partners Inc acquired a new position in Newmont in the fourth quarter valued at $26,000. Finally, OFI Invest Asset Management acquired a new position in Newmont in the third quarter valued at $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 1.2 %

NYSE:NEM opened at $38.56 on Thursday. 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 one year low of $29.42 and a one year high of $50.18. The business’s 50-day simple moving average is $34.59 and its 200 day simple moving average is $36.80. The stock has a market cap of $44.45 billion, a price-to-earnings ratio of -16.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. As a group, sell-side analysts predict that Newmont Co. will post 2.02 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio is currently -42.02%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NEM shares. Jefferies Financial Group started coverage on Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. TD Securities cut their price objective on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Scotiabank reduced their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Citigroup reduced their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Finally, BMO Capital Markets reduced their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Hold” and an average price target of $51.97.

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.