Bfsg LLC Purchases 71,014 Shares of Newmont Co. (NYSE:NEM)

Bfsg LLC increased its holdings in shares of Newmont Co. (NYSE:NEM) by 39.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,580 shares of the basic materials company’s stock after purchasing an additional 71,014 shares during the quarter. Newmont accounts for 1.5% of Bfsg LLC’s portfolio, making the stock its 11th biggest holding. Bfsg LLC’s holdings in Newmont were worth $12,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Newmont during the 4th quarter valued at $7,508,000. Savant Capital LLC lifted its position in shares of Newmont by 29.6% in the fourth quarter. Savant Capital LLC now owns 14,411 shares of the basic materials company’s stock valued at $536,000 after acquiring an additional 3,292 shares in the last quarter. Principal Securities Inc. lifted its holdings in Newmont by 196.9% in the 4th quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company’s stock worth $214,000 after purchasing an additional 3,813 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in Newmont in the 4th quarter worth $1,624,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. Royal Bank of Canada increased their price target on Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. Scotiabank reaffirmed a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. National Bankshares reissued a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Finally, Raymond James reiterated an “outperform” rating and issued a $66.00 price target on shares of Newmont in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.68.

Newmont Stock Performance

NYSE NEM opened at $58.10 on Tuesday. The stock’s 50 day simple moving average is $53.26 and its 200-day simple moving average is $46.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market cap of $64.66 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.78.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the previous year, the firm earned $0.55 EPS. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. Newmont’s dividend payout ratio is presently 22.42%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the transaction, the director now owns 47,257 shares in the company, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now directly owns 77,526 shares of the company’s stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 in the last ninety days. Company insiders own 0.05% 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.