Euro Pacific Asset Management LLC Sells 19,990 Shares of Newmont Co. (NYSE:NEM)

Euro Pacific Asset Management LLC trimmed its stake in Newmont Co. (NYSE:NEM) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 303,650 shares of the basic materials company’s stock after selling 19,990 shares during the period. Newmont accounts for about 2.7% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 16th biggest holding. Euro Pacific Asset Management LLC’s holdings in Newmont were worth $12,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in shares of Newmont by 25.8% in the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 278 shares during the period. S.A. Mason LLC lifted its holdings in shares of Newmont by 15.1% in the third quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock worth $80,000 after buying an additional 285 shares in the last quarter. Grey Street Capital LLC increased its position in Newmont by 0.4% in the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after purchasing an additional 289 shares during the last quarter. Reitz Capital Advisors LLC increased its position in Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after purchasing an additional 298 shares during the last quarter. Finally, Antonetti Capital Management LLC increased its position in Newmont by 30.0% in the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 300 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

NYSE:NEM remained flat at $38.56 during midday trading on Thursday. 3,755,941 shares of the company traded hands, compared to its average volume of 13,534,038. Newmont Co. has a one year low of $29.42 and a one year high of $50.18. The company’s fifty day simple moving average is $34.59 and its 200 day simple moving average is $36.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market capitalization of $44.45 billion, a price-to-earnings ratio of -16.20, a P/E/G ratio of 1.00 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the company posted $0.44 EPS. Newmont’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, analysts forecast that Newmont Co. will post 2.02 EPS for the current year.

Newmont Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on NEM shares. Citigroup cut their price objective 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. BMO Capital Markets lowered their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. TD Securities decreased their price target on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.97.

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.