Bay Capital Advisors LLC Purchases New Holdings in Newmont Co. (NYSE:NEM)

Bay Capital Advisors LLC acquired a new position in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,049 shares of the basic materials company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Minneapolis Portfolio Management Group LLC raised its stake in Newmont by 0.5% in the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 676,076 shares of the basic materials company’s stock valued at $25,164,000 after purchasing an additional 3,317 shares in the last quarter. Sound Shore Management Inc. CT increased its holdings in Newmont by 59.8% in the 4th quarter. Sound Shore Management Inc. CT now owns 266,940 shares of the basic materials company’s stock valued at $9,936,000 after buying an additional 99,910 shares during the period. Syntax Research Inc. raised its position in shares of Newmont by 110.3% in the 4th quarter. Syntax Research Inc. now owns 72,125 shares of the basic materials company’s stock valued at $2,684,000 after buying an additional 37,833 shares in the last quarter. Angeles Investment Advisors LLC lifted its holdings in shares of Newmont by 13.6% during the 4th quarter. Angeles Investment Advisors LLC now owns 14,631 shares of the basic materials company’s stock worth $545,000 after acquiring an additional 1,754 shares during the period. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of Newmont during the 4th quarter worth approximately $122,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 1.2 %

Shares of Newmont stock opened at $46.81 on Tuesday. The stock has a fifty day simple moving average of $44.25 and a 200 day simple moving average of $45.50. The company has a market capitalization of $52.76 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $33.86 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Raymond James dropped their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock valued at $1,388,758. Insiders own 0.06% of the company’s stock.

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.