Newmont Co. (NYSE:NEM) Shares Acquired by Inspire Advisors LLC

Inspire Advisors LLC raised its stake in Newmont Co. (NYSE:NEM) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,934 shares of the basic materials company’s stock after purchasing an additional 697 shares during the period. Inspire Advisors LLC’s holdings in Newmont were worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in NEM. KCM Investment Advisors LLC raised its holdings in shares of Newmont by 2.3% in the 2nd quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock valued at $453,000 after purchasing an additional 244 shares in the last quarter. Meeder Advisory Services Inc. boosted its position 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 in the last quarter. Moody National Bank Trust Division increased its holdings in shares of Newmont by 1.7% in the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after acquiring an additional 296 shares during the last quarter. Berkeley Capital Partners LLC raised its position 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 in the last quarter. Finally, Crestmont Private Wealth LLC lifted its stake 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 worth $246,000 after purchasing an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM opened at $53.71 on Friday. The firm has a market capitalization of $61.63 billion, a PE ratio of -20.12, a P/E/G ratio of 0.37 and a beta of 0.49. The stock’s 50 day moving average is $49.32 and its two-hundred day moving average is $42.70. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $54.25. 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 issued its earnings results 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. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 64.1% compared to the same quarter last year. Research analysts anticipate that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s payout ratio is currently -37.45%.

Analyst Ratings Changes

Several analysts have recently weighed in on NEM shares. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. 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. Bank of America lifted their price target on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group increased their price objective on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $51.46.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Newmont news, 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 in the company, valued at approximately $4,963,452.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is owned by insiders.

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.