Mercer Global Advisors Inc. ADV Reduces Stock Position in Newmont Co. (NYSE:NEM)

Mercer Global Advisors Inc. ADV lessened its position in shares of Newmont Co. (NYSE:NEM – Get Rating) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,524 shares of the basic materials company’s stock after selling 4,186 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Newmont were worth $4,808,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NEM. Cetera Advisor Networks LLC raised its holdings in Newmont by 5.7% in the 3rd quarter. Cetera Advisor Networks LLC now owns 34,798 shares of the basic materials company’s stock worth $1,890,000 after purchasing an additional 1,873 shares during the period. Stack Financial Management Inc grew its holdings in shares of Newmont by 0.8% during the 3rd quarter. Stack Financial Management Inc now owns 269,818 shares of the basic materials company’s stock worth $14,651,000 after purchasing an additional 2,257 shares during the period. Boyer & Corporon Wealth Management LLC grew its holdings in shares of Newmont by 3.7% during the 3rd quarter. Boyer & Corporon Wealth Management LLC now owns 93,872 shares of the basic materials company’s stock worth $5,097,000 after purchasing an additional 3,392 shares during the period. Heritage Wealth Advisors grew its holdings in shares of Newmont by 8.8% during the 3rd quarter. Heritage Wealth Advisors now owns 243,347 shares of the basic materials company’s stock worth $13,214,000 after purchasing an additional 19,663 shares during the period. Finally, Capital Wealth Planning LLC grew its holdings in shares of Newmont by 72.8% during the 3rd quarter. Capital Wealth Planning LLC now owns 2,688,038 shares of the basic materials company’s stock worth $145,961,000 after purchasing an additional 1,132,161 shares during the period. 76.72% of the stock is owned by institutional investors and hedge funds.

NEM traded down $2.13 during trading on Tuesday, hitting $83.29. 221,935 shares of the stock were exchanged, compared to its average volume of 8,152,925. The firm has a market capitalization of $66.01 billion, a P/E ratio of 58.91 and a beta of 0.30. Newmont Co. has a 1-year low of $52.60 and a 1-year high of $86.37. The stock has a fifty day moving average price of $74.47 and a two-hundred day moving average price of $63.90. The company has a quick ratio of 2.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.28.

Newmont (NYSE:NEM – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. Newmont had a return on equity of 10.19% and a net margin of 9.54%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 earnings per share. Analysts predict that Newmont Co. will post 3.42 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Thursday, March 10th were paid a $0.55 dividend. The ex-dividend date was Wednesday, March 9th. This represents a $2.20 annualized dividend and a dividend yield of 2.64%. Newmont’s dividend payout ratio (DPR) is currently 151.72%.

A number of equities analysts recently commented on NEM shares. National Bank Financial raised their target price on Newmont from C$92.00 to C$98.00 in a report on Friday, January 7th. Canaccord Genuity Group cut Newmont from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Wednesday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $65.00 price objective on shares of Newmont in a research note on Wednesday, February 9th. Credit Suisse Group cut Newmont from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price objective on Newmont from $67.00 to $72.00 and gave the company a “hold” rating in a research note on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Hold” and a consensus price target of $71.36.

In related news, SVP Blake Rhodes sold 500 shares of Newmont stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $62.00, for a total value of $31,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $62.00, for a total value of $186,000.00. The disclosure for this sale can be found here. Insiders sold a total of 66,343 shares of company stock worth $4,838,533 over the last quarter. Company insiders own 0.11% of the company’s stock.

Newmont Company Profile (Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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