Lesa Sroufe & Co Raises Holdings in Newmont Corporation $NEM

Lesa Sroufe & Co raised its holdings in Newmont Corporation (NYSE:NEM) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,638 shares of the basic materials company’s stock after buying an additional 1,400 shares during the quarter. Newmont comprises 4.3% of Lesa Sroufe & Co’s investment portfolio, making the stock its 4th largest position. Lesa Sroufe & Co’s holdings in Newmont were worth $4,698,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Concord Wealth Partners grew its position in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont during the first quarter valued at approximately $26,000. Colonial Trust Advisors boosted its position in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Financial Management Professionals Inc. boosted its position in shares of Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 444 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its position in shares of Newmont by 92.3% during the second quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup lifted their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James Financial set a $96.00 price target on Newmont in a research report on Friday, October 10th. Stifel Canada upgraded Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the company a “buy” rating in a research report on Sunday. Finally, BNP Paribas Exane lifted their price target on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.66.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock valued at $1,132,065 over the last 90 days. Company insiders own 0.05% of the company’s stock.

Newmont Stock Up 3.3%

NEM stock opened at $93.49 on Thursday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $93.93. The business has a fifty day moving average price of $78.22 and a 200-day moving average price of $63.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The stock has a market capitalization of $102.70 billion, a P/E ratio of 16.78, a P/E/G ratio of 0.99 and a beta of 0.34.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. Equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 17.95%.

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.