Barry Investment Advisors LLC Cuts Position in Newmont Co. (NYSE:NEM)

Barry Investment Advisors LLC lessened its holdings in Newmont Co. (NYSE:NEM) by 60.8% during the first quarter, Holdings Channel.com reports. The firm owned 14,954 shares of the basic materials company’s stock after selling 23,198 shares during the quarter. Barry Investment Advisors LLC’s holdings in Newmont were worth $536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in Newmont by 27.5% in the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after purchasing an additional 36,645 shares during the period. American International Group Inc. grew its holdings in Newmont by 24.8% in the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after purchasing an additional 58,217 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Newmont by 34.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock worth $53,009,000 after buying an additional 325,320 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Newmont by 13.5% in the fourth 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 in the last quarter. Finally, Premier Fund Managers Ltd bought a new position in shares of Newmont in the fourth quarter worth approximately $1,276,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NEM traded up $0.03 during trading on Friday, hitting $41.87. The company’s stock had a trading volume of 10,265,608 shares, compared to its average volume of 7,521,099. 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. The firm has a market cap of $48.28 billion, a PE ratio of -15.68, a P/E/G ratio of 0.35 and a beta of 0.52. The business’s 50 day simple moving average is $41.67 and its 200-day simple moving average is $38.10.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was up 50.2% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Co. will post 2.48 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.39%. Newmont’s payout ratio is presently -37.45%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $50.00 in a research note on Monday, June 17th. Scotiabank upped their target price on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. BMO Capital Markets dropped their target price on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research note 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 research note 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.13.

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.