Newmont Co. (NYSE:NEM) Shares Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. increased its holdings in shares of Newmont Co. (NYSE:NEM) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,082 shares of the basic materials company’s stock after acquiring an additional 233 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Newmont were worth $2,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. KCM Investment Advisors LLC grew its holdings in Newmont by 2.3% in the second 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 during the period. Meeder Advisory Services Inc. raised its position in Newmont by 3.8% during the first 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 period. Moody National Bank Trust Division lifted its holdings in Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after purchasing an additional 296 shares in the last quarter. Berkeley Capital Partners LLC grew its position in shares of Newmont by 5.6% in the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 318 shares during the period. Finally, Crestmont Private Wealth LLC increased its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other 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 completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,000 shares of company stock worth $2,744,700. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target 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. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday, August 29th. BNP Paribas raised Newmont to a “strong-buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Finally, Bank of America increased their price objective on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Newmont Stock Down 1.0 %

Shares of NYSE:NEM opened at $53.15 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $49.50 and a two-hundred day moving average of $43.04. The stock has a market cap of $61.29 billion, a P/E ratio of -19.91, a PEG ratio of 0.37 and a beta of 0.49. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $54.25.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 64.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, research analysts expect that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

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.