Raymond James Financial Services Advisors Inc. Purchases 5,345 Shares of Newmont Co. (NYSE:NEM)

Raymond James Financial Services Advisors Inc. grew its position in shares of Newmont Co. (NYSE:NEM) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,197 shares of the basic materials company’s stock after buying an additional 5,345 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Newmont were worth $11,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. PFG Investments LLC increased its stake in Newmont by 4.5% during the 1st quarter. PFG Investments LLC now owns 22,506 shares of the basic materials company’s stock worth $807,000 after acquiring an additional 962 shares during the period. Altfest L J & Co. Inc. bought a new position in shares of Newmont in the first quarter worth $309,000. Waycross Investment Management Co acquired a new position in Newmont in the first quarter valued at about $868,000. Accordant Advisory Group Inc bought a new stake in Newmont during the first quarter worth about $2,153,000. Finally, New Century Financial Group LLC acquired a new stake in Newmont during the first quarter worth about $1,128,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 1.0 %

NYSE:NEM traded down $0.39 during trading hours on Friday, hitting $40.66. 7,306,324 shares of the company were exchanged, compared to its average volume of 14,411,746. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of -15.23, a price-to-earnings-growth ratio of 0.97 and a beta of 0.48. Newmont Co. has a one year low of $29.42 and a one year high of $50.18. The company has a fifty day simple moving average of $36.40 and a 200 day simple moving average of $37.02. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Sell-side analysts expect that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid 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 is Tuesday, June 4th. Newmont’s dividend payout ratio is presently -37.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NEM shares. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday. Citigroup decreased their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective for the company. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada lowered their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.35.

About Newmont

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.