Fielder Capital Group LLC Makes New $258,000 Investment in Newmont Co. (NYSE:NEM)

Fielder Capital Group LLC bought a new stake in Newmont Co. (NYSE:NEM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,165 shares of the basic materials company’s stock, valued at approximately $258,000.

A number of other institutional investors have also bought and sold shares of NEM. KCM Investment Advisors LLC boosted its position in shares of Newmont by 2.3% during the 2nd 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 in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Newmont by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 278 shares in the last quarter. Moody National Bank Trust Division lifted its position in shares of Newmont by 1.7% during the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after acquiring an additional 296 shares during the period. Berkeley Capital Partners LLC grew its holdings in Newmont by 5.6% in the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock worth $247,000 after purchasing an additional 318 shares during the period. Finally, Crestmont Private Wealth LLC boosted its position in shares of Newmont by 4.9% during the 1st 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. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.4 %

Shares of NYSE:NEM traded up $0.21 during trading on Friday, hitting $53.39. The stock had a trading volume of 8,672,495 shares, compared to its average volume of 6,420,627. 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 company has a market capitalization of $61.26 billion, a PE ratio of -20.00, a PEG ratio of 0.39 and a beta of 0.47. The firm’s fifty day moving average is $47.43 and its 200 day moving average is $41.40. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $53.88.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative net margin of 13.16% and a positive return on equity of 8.35%. Newmont’s revenue was up 64.1% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. Analysts anticipate that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of several recent research reports. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and upped their target price for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. Sanford C. Bernstein decreased their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. Finally, Bank of America boosted their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.46.

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.