BBR Partners LLC Makes New Investment in Newmont Co. (NYSE:NEM)

BBR Partners LLC purchased a new position in Newmont Co. (NYSE:NEM) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,389 shares of the basic materials company’s stock, valued at approximately $226,000.

Other large investors have also recently added to or reduced their stakes in the company. American International Group Inc. grew its position in Newmont by 24.8% during the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after buying an additional 58,217 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Newmont by 34.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock worth $53,009,000 after purchasing an additional 325,320 shares in the last quarter. Premier Fund Managers Ltd bought a new stake in shares of Newmont during the fourth quarter valued at approximately $1,276,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Newmont in the fourth quarter valued at $1,167,000. Finally, Virtu Financial LLC bought a new position in Newmont in the fourth quarter worth $3,313,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.6 %

Shares of NYSE NEM opened at $51.91 on Friday. The company has a market cap of $59.86 billion, a price-to-earnings ratio of -19.44, a PEG ratio of 0.39 and a beta of 0.47. 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 $53.88. The stock has a 50-day moving average price of $48.26 and a two-hundred day moving average price of $41.88.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 64.1% on a year-over-year basis. As a group, analysts forecast that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEM. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $48.00 to $59.00 in a research note on Monday, August 19th. BMO Capital Markets raised their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group upped their price objective on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.46.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $2,744,700 over the last 90 days. 0.06% of the stock is owned by insiders.

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.