Newmont Co. (NYSE:NEM) Shares Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. increased its position in shares of Newmont Co. (NYSE:NEM) by 8.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,265 shares of the basic materials company’s stock after buying an additional 5,479 shares during the quarter. Moors & Cabot Inc.’s holdings in Newmont were worth $2,942,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in shares of Newmont in the first quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont during the 2nd quarter valued at approximately $27,000. Heritage Wealth Advisors lifted its position in Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 878 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Newmont in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 0.0 %

Shares of NEM stock opened at $53.11 on Wednesday. The stock has a market cap of $61.24 billion, a P/E ratio of -19.89, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $54.25. The business has a fifty day simple moving average of $49.69 and a 200-day simple moving average of $43.18.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s payout ratio is currently -37.45%.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the sale, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,000 shares of company stock worth $2,744,700. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and boosted their price target for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Finally, UBS Group boosted their target price on Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.62.

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.