Newmont Co. (NYSE:NEM) Shares Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. boosted its stake in shares of Newmont Co. (NYSE:NEM) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,265 shares of the basic materials company’s stock after purchasing an additional 5,479 shares during the period. Moors & Cabot Inc.’s holdings in Newmont were worth $2,942,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American International Group Inc. boosted its holdings in Newmont by 24.8% in the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock valued at $12,116,000 after acquiring an additional 58,217 shares during the last quarter. Premier Fund Managers Ltd acquired a new position in shares of Newmont in the 4th quarter valued at about $1,276,000. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Newmont during the 4th quarter worth about $1,167,000. Virtu Financial LLC acquired a new stake in Newmont during the 4th quarter worth approximately $3,313,000. Finally, Oppenheimer & Co. Inc. raised its holdings in Newmont by 26.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 184,604 shares of the basic materials company’s stock valued at $7,641,000 after buying an additional 39,053 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective 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. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Jefferies Financial Group raised their price objective on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, August 29th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $48.00 to $59.00 in a report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $52.62.

Newmont Stock Down 0.0 %

NEM stock opened at $53.11 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. The firm has a 50 day simple moving average of $49.69 and a 200-day simple moving average of $43.18. The company has a market capitalization of $61.24 billion, a P/E ratio of -19.89, a PEG ratio of 0.37 and a beta of 0.49. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $54.25.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, equities research analysts predict that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is currently -37.45%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated 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 sale, 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. Insiders have sold a total of 56,000 shares of company stock valued at $2,744,700 in the last quarter. Insiders own 0.06% of the company’s stock.

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.