Newmont Co. (NYSE:NEM) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. cut its position in Newmont Co. (NYSE:NEM) by 23.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,123 shares of the basic materials company’s stock after selling 3,475 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Newmont were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. BMO Capital Markets lowered their price target on Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Citigroup reduced their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $48.35.

Newmont Price Performance

NEM stock traded up $0.74 on Monday, reaching $41.40. 7,714,917 shares of the company’s stock were exchanged, compared to its average volume of 13,560,684. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $49.08. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $36.62 and a 200-day moving average of $36.99. The firm has a market cap of $47.74 billion, a PE ratio of -15.51, a P/E/G ratio of 0.96 and a beta of 0.48.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

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.