Game Plan Financial Advisors LLC Buys New Shares in Newmont Co. (NYSE:NEM)

Game Plan Financial Advisors LLC purchased a new position in Newmont Co. (NYSE:NEM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,050 shares of the basic materials company’s stock, valued at approximately $44,000.

Other institutional investors also recently modified their holdings of the company. KCM Investment Advisors LLC increased its position in shares of Newmont by 2.3% in the second quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock worth $453,000 after acquiring an additional 244 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Newmont by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 278 shares in the last quarter. Moody National Bank Trust Division boosted its position in shares of Newmont by 1.7% in the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after buying an additional 296 shares during the period. Berkeley Capital Partners LLC grew its holdings in shares of Newmont by 5.6% during the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after buying an additional 318 shares in the last quarter. Finally, Crestmont Private Wealth LLC raised its position in Newmont by 4.9% during the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after buying an additional 319 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Newmont stock traded up $0.21 on Friday, reaching $53.39. 8,672,495 shares of the stock were exchanged, compared to its average volume of 6,420,627. The stock has a market cap of $61.26 billion, a PE ratio of -20.00, a PEG ratio of 0.39 and a beta of 0.47. The firm has a fifty day moving average price of $47.43 and a two-hundred day moving average price of $41.40. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $53.88. 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 (NYSE:NEM) last posted 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 business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s revenue was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. Sell-side analysts anticipate that Newmont Co. will post 2.82 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is currently -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 on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NEM. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Jefferies Financial Group boosted their price target on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock 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 issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.46.

Newmont Company 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.