Ellsworth Advisors LLC Buys 983 Shares of Newmont Co. (NYSE:NEM)

Ellsworth Advisors LLC raised its position in Newmont Co. (NYSE:NEM) by 9.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,284 shares of the basic materials company’s stock after buying an additional 983 shares during the period. Ellsworth Advisors LLC’s holdings in Newmont were worth $467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Capital Partners LTD. lifted its holdings in Newmont by 1.1% in the fourth quarter. LGT Capital Partners LTD. now owns 825,880 shares of the basic materials company’s stock valued at $34,183,000 after buying an additional 9,380 shares during the period. Uncommon Cents Investing LLC grew its stake in shares of Newmont by 18.9% during the fourth quarter. Uncommon Cents Investing LLC now owns 15,175 shares of the basic materials company’s stock worth $628,000 after purchasing an additional 2,410 shares during the period. A. D. Beadell Investment Counsel Inc. increased its holdings in Newmont by 5.6% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 8,715 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 465 shares during the last quarter. Reitz Capital Advisors LLC lifted its stake 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 valued at $1,166,000 after buying an additional 298 shares during the period. Finally, Centennial Wealth Advisory LLC bought a new position in Newmont during the fourth quarter worth about $220,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price target on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. TD Securities cut their target price on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. UBS Group dropped their price objective on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. Finally, Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Hold” and a consensus target price of $52.97.

Newmont Stock Performance

Shares of NYSE:NEM traded up $0.59 on Thursday, hitting $35.84. The company had a trading volume of 14,428,337 shares, compared to its average volume of 13,389,644. The stock has a 50 day moving average price of $33.52 and a 200 day moving average price of $36.94. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a market cap of $41.32 billion, a price-to-earnings ratio of -15.06, a P/E/G ratio of 2.91 and a beta of 0.49. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $52.76.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. Analysts expect that Newmont Co. will post 1.88 EPS for the current year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Tuesday, March 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Insider Buying and Selling

In related news, COO Robert D. Atkinson sold 5,500 shares of Newmont stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total value of $226,930.00. Following the transaction, the chief operating officer now directly owns 54,251 shares of the company’s stock, valued at $2,238,396.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.