Simplicity Solutions LLC Buys 2,766 Shares of Newmont Co. (NYSE:NEM)

Simplicity Solutions LLC raised its holdings in Newmont Co. (NYSE:NEM) by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,712 shares of the basic materials company’s stock after buying an additional 2,766 shares during the period. Simplicity Solutions LLC’s holdings in Newmont were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Compass Wealth Management LLC bought a new position in shares of Newmont during the fourth quarter valued at about $25,000. TFC Financial Management Inc. increased its stake in shares of Newmont by 242.2% in the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Newmont in the third quarter worth about $26,000. Life Planning Partners Inc purchased a new position in shares of Newmont in the fourth quarter worth about $26,000. Finally, OFI Invest Asset Management purchased a new position in Newmont during the third quarter valued at approximately $30,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 0.0 %

Shares of NEM opened at $38.55 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. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18. The firm has a 50 day moving average price of $34.70 and a 200-day moving average price of $36.81. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of -16.20, a PEG ratio of 1.00 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS 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 firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Co. will post 2.02 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s payout ratio is -42.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NEM shares. StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. TD Securities dropped their target price 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. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Finally, Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.