Bleakley Financial Group LLC Buys 1,859 Shares of Newmont Co. (NYSE:NEM)

Bleakley Financial Group LLC lifted its stake in Newmont Co. (NYSE:NEM) by 10.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,327 shares of the basic materials company’s stock after purchasing an additional 1,859 shares during the period. Bleakley Financial Group LLC’s holdings in Newmont were worth $1,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its position in Newmont by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 1,033,197 shares of the basic materials company’s stock valued at $42,764,000 after purchasing an additional 47,597 shares during the last quarter. NBC Securities Inc. raised its stake in shares of Newmont by 37.4% in the first quarter. NBC Securities Inc. now owns 3,908 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 1,063 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Newmont by 4.7% during the 1st quarter. International Assets Investment Management LLC now owns 15,474 shares of the basic materials company’s stock valued at $564,000 after acquiring an additional 688 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in Newmont during the first quarter worth about $483,000. Finally, Global Assets Advisory LLC bought a new position in shares of Newmont in the first quarter valued at approximately $2,899,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Up 2.0 %

NYSE NEM opened at $57.62 on Monday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $57.96. The stock has a market capitalization of $66.44 billion, a PE ratio of -21.58, a PEG ratio of 0.43 and a beta of 0.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The business’s 50-day moving average is $52.88 and its 200 day moving average is $46.39.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was up 64.1% compared to the same quarter last year. Sell-side analysts forecast that Newmont Co. will post 3.1 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. Newmont’s dividend payout ratio is -37.45%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $3,434,640 over the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEM. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Jefferies Financial Group lifted their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $48.00 to $59.00 in a research report on Monday, August 19th. Bank of America upped their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, BMO Capital Markets raised their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.46.

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.