Sapient Capital LLC Has $553,000 Stake in Newmont Co. (NYSE:NEM)

Sapient Capital LLC lowered its position in Newmont Co. (NYSE:NEM) by 92.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 15,433 shares of the basic materials company’s stock after selling 199,226 shares during the period. Sapient Capital LLC’s holdings in Newmont were worth $553,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of NEM. Life Planning Partners Inc bought a new stake in Newmont during the 4th quarter valued at $26,000. Manchester Capital Management LLC grew its stake in shares of Newmont by 171.9% in the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares in the last quarter. TFC Financial Management Inc. boosted its holdings in shares of Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after buying an additional 499 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Newmont in the 3rd quarter worth about $26,000. Finally, CVA Family Office LLC purchased a new position in shares of Newmont in the 4th quarter worth about $34,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. BMO Capital Markets decreased their price target on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report 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 on the stock. Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Newmont Price Performance

NYSE:NEM traded down $1.62 during trading hours on Tuesday, reaching $40.64. The stock had a trading volume of 13,326,969 shares, compared to its average volume of 13,788,740. The stock has a market capitalization of $46.85 billion, a PE ratio of -15.22, a PEG ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The company has a 50 day moving average price of $35.86 and a two-hundred day moving average price of $36.96. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The business’s revenue was up 50.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Co. will post 2.16 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

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.