Bcwm LLC Makes New $947,000 Investment in Newmont Co. (NYSE:NEM)

Bcwm LLC acquired a new stake in Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 25,435 shares of the basic materials company’s stock, valued at approximately $947,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HHM Wealth Advisors LLC lifted its position in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Promus Capital LLC acquired a new stake in Newmont during the 4th quarter valued at $38,000. McIlrath & Eck LLC boosted its position in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Newmont in the fourth quarter valued at $43,000. Finally, Assetmark Inc. raised its position in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 820 shares during the period. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on NEM shares. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Royal Bank of Canada upped their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, Scotiabank reduced their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Newmont stock opened at $48.06 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52 week low of $36.10 and a 52 week high of $58.72. The stock has a market capitalization of $54.17 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The stock has a fifty day moving average of $44.78 and a 200-day moving average of $45.46.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. On average, sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.08%. Newmont’s dividend payout ratio is presently 34.13%.

About Newmont

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.