Newmont Co. (NYSE:NEM) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 18.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,175 shares of the basic materials company’s stock after selling 5,875 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Newmont were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position 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 buying an additional 278 shares during the period. S.A. Mason LLC boosted its position 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 during the period. Grey Street Capital LLC boosted its position in shares of 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 buying an additional 289 shares during the period. Reitz Capital Advisors LLC boosted its position in shares of 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 buying an additional 298 shares during the period. Finally, Antonetti Capital Management LLC raised its holdings in shares of Newmont by 30.0% during the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 300 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEM. StockNews.com lowered Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Argus lowered Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. TD Securities cut their price objective on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Citigroup cut their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Finally, Scotiabank cut their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.97.

Newmont Trading Up 1.2 %

Newmont stock opened at $39.02 on Friday. 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 business’s 50-day simple moving average is $34.82 and its 200-day simple moving average is $36.84. The firm has a market capitalization of $44.98 billion, a PE ratio of -16.39, a PEG ratio of 1.03 and a beta of 0.50. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities research analysts forecast that Newmont Co. will post 1.98 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

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.