JB Capital LLC Buys 1,303 Shares of Newmont Co. (NYSE:NEM)

JB Capital LLC lifted its position in shares of Newmont Co. (NYSE:NEM) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,313 shares of the basic materials company’s stock after buying an additional 1,303 shares during the quarter. JB Capital LLC’s holdings in Newmont were worth $3,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. LRI Investments LLC acquired a new stake in Newmont during the 1st quarter worth about $25,000. Manchester Capital Management LLC grew its stake in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares during the period. Heritage Wealth Advisors increased its holdings 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 purchasing an additional 878 shares in the last quarter. Crewe Advisors LLC acquired a new position in Newmont in the first quarter valued at approximately $35,000. Finally, Rise Advisors LLC boosted its holdings in shares of Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after buying an additional 973 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NEM shares. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Sanford C. Bernstein dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. BMO Capital Markets raised their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group upped their price target on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $48.00 to $59.00 in a research report on Monday. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.92.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Newmont Stock Up 1.2 %

NYSE:NEM traded up $0.63 on Friday, hitting $52.04. The stock had a trading volume of 4,544,559 shares, compared to its average volume of 10,794,402. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $52.38. The firm’s fifty day simple moving average is $46.13 and its two-hundred day simple moving average is $40.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a market cap of $60.01 billion, a P/E ratio of -19.46, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same period last year, the business posted $0.33 earnings per share. Newmont’s revenue was up 64.1% on a year-over-year basis. Analysts predict that Newmont Co. will post 2.76 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

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.