Newmont Co. (NYSE:NEM) Holdings Increased by Empirical Finance LLC

Empirical Finance LLC grew its stake in shares of Newmont Co. (NYSE:NEM) by 5.3% during the first quarter, Holdings Channel reports. The institutional investor owned 29,901 shares of the basic materials company’s stock after acquiring an additional 1,506 shares during the period. Empirical Finance LLC’s holdings in Newmont were worth $1,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Life Planning Partners Inc bought a new stake in shares of Newmont in the 4th quarter worth approximately $26,000. Manchester Capital Management LLC raised its holdings in shares of Newmont by 171.9% in the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $34,000. Rise Advisors LLC raised its holdings in shares of Newmont by 2,373.2% in the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 973 shares in the last quarter. Finally, Advantage Trust Co bought a new stake in shares of Newmont in the 4th quarter worth approximately $41,000. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Sanford C. Bernstein cut their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. JPMorgan Chase & Co. lowered shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the company from $46.00 to $61.00 in a research report on Wednesday. Finally, StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.21.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at approximately $13,964,788.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM traded up $0.34 during trading hours on Friday, hitting $47.51. 7,324,276 shares of the stock were exchanged, compared to its average volume of 11,576,785. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The company’s 50 day moving average is $42.29 and its 200 day moving average is $38.30. The firm has a market capitalization of $54.79 billion, a P/E ratio of -17.82, a P/E/G ratio of 0.38 and a beta of 0.47. Newmont Co. has a one year low of $29.42 and a one year high of $48.02.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. Newmont’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. On average, research analysts expect that Newmont Co. will post 2.48 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio is currently -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.