Blair William & Co. IL Sells 518 Shares of Newmont Co. (NYSE:NEM)

Blair William & Co. IL trimmed its position in shares of Newmont Co. (NYSE:NEM) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,118 shares of the basic materials company’s stock after selling 518 shares during the period. Blair William & Co. IL’s holdings in Newmont were worth $1,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LRI Investments LLC bought a new position in Newmont in the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new position in Newmont in the second quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the second quarter worth about $27,000. Heritage Wealth Advisors raised its stake in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in Newmont in the first quarter worth about $35,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 2.5 %

Shares of NEM stock opened at $55.85 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $56.09. The stock has a market capitalization of $64.40 billion, a P/E ratio of -20.92, a P/E/G ratio of 0.37 and a beta of 0.49. The firm’s 50 day moving average is $50.40 and its 200 day moving average is $43.91.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 64.1% on a year-over-year basis. Research analysts expect that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,000 shares of company stock valued at $2,744,700. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEM. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Finally, Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $52.62.

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.