Ellsworth Advisors LLC Buys 1,404 Shares of Newmont Co. (NYSE:NEM)

Ellsworth Advisors LLC boosted its stake in Newmont Co. (NYSE:NEM) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,534 shares of the basic materials company’s stock after purchasing an additional 1,404 shares during the period. Ellsworth Advisors LLC’s holdings in Newmont were worth $609,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Meeder Advisory Services Inc. boosted its stake in shares of Newmont by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 278 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Newmont by 1.7% during the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after acquiring an additional 296 shares during the last quarter. Berkeley Capital Partners LLC boosted its stake in shares of Newmont by 5.6% during the 4th quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock worth $247,000 after acquiring an additional 318 shares during the last quarter. Crestmont Private Wealth LLC boosted its stake in shares of Newmont by 4.9% during the 1st quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 319 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Newmont by 0.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 98,992 shares of the basic materials company’s stock worth $3,547,000 after acquiring an additional 338 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Securities lifted their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Sanford C. Bernstein decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Bank of America boosted their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.00.

Newmont Price Performance

Shares of Newmont stock traded up $0.91 during trading hours on Friday, reaching $50.22. The company’s stock had a trading volume of 8,493,433 shares, compared to its average volume of 10,960,169. The stock has a market cap of $57.91 billion, a P/E ratio of -18.81, a P/E/G ratio of 0.37 and a beta of 0.47. Newmont Co. has a one year low of $29.42 and a one year high of $50.72. The firm has a 50 day moving average price of $45.28 and a 200-day moving average price of $40.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85.

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 the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate 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 was up 64.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. On average, analysts predict that Newmont Co. will post 2.76 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.99%. Newmont’s dividend payout ratio (DPR) is -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.