Murphy Pohlad Asset Management LLC Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Murphy Pohlad Asset Management LLC lifted its holdings in Newmont Co. (NYSE:NEM) by 241.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,710 shares of the basic materials company’s stock after purchasing an additional 11,115 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Newmont were worth $995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Deutsche Bank AG raised its holdings in shares of Newmont by 3.5% in the second quarter. Deutsche Bank AG now owns 20,487,134 shares of the basic materials company’s stock worth $1,298,473,000 after buying an additional 700,182 shares during the period. Hayden Royal LLC purchased a new stake in shares of Newmont in the second quarter worth approximately $201,000. AMF Pensionsforsakring AB raised its holdings in shares of Newmont by 28.0% in the second quarter. AMF Pensionsforsakring AB now owns 437,208 shares of the basic materials company’s stock worth $27,746,000 after buying an additional 95,593 shares during the period. Vantage Consulting Group Inc raised its holdings in shares of Newmont by 21.2% in the second quarter. Vantage Consulting Group Inc now owns 4,843 shares of the basic materials company’s stock worth $307,000 after buying an additional 847 shares during the period. Finally, People s United Financial Inc. grew its stake in Newmont by 24.6% in the second quarter. People s United Financial Inc. now owns 27,701 shares of the basic materials company’s stock worth $1,756,000 after purchasing an additional 5,471 shares in the last quarter. Hedge funds and other institutional investors own 77.76% of the company’s stock.

Several brokerages recently issued reports on NEM. UBS Group set a $64.00 price objective on Newmont and gave the stock a “neutral” rating in a research note on Friday, July 23rd. Raymond James set a $82.00 price objective on Newmont and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Canaccord Genuity dropped their price objective on Newmont from $74.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, July 23rd. National Bank Financial dropped their price objective on Newmont from C$108.00 to C$105.00 and set an “outperform” rating on the stock in a research note on Friday, July 16th. Finally, TD Securities cut Newmont from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $74.00 to $70.00 in a research note on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $72.63.

NYSE NEM traded down $0.42 during midday trading on Monday, hitting $54.80. 141,489 shares of the company traded hands, compared to its average volume of 6,493,978. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 2.33. The company has a market cap of $43.79 billion, a PE ratio of 15.47 and a beta of 0.23. Newmont Co. has a 52 week low of $54.18 and a 52 week high of $75.31. The company’s 50-day simple moving average is $59.31 and its 200-day simple moving average is $63.12.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 22nd. The basic materials company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.07. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Newmont had a return on equity of 11.78% and a net margin of 23.00%. The business’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. On average, research analysts predict that Newmont Co. will post 3.55 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Thursday, September 9th will be given a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, September 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.01%. Newmont’s payout ratio is 82.71%.

In related news, CEO Thomas Ronald Palmer sold 7,000 shares of the firm’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $64.00, for a total value of $448,000.00. Following the completion of the transaction, the chief executive officer now owns 264,525 shares in the company, valued at approximately $16,929,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 30th. The stock was sold at an average price of $62.84, for a total value of $628,400.00. Following the completion of the transaction, the chief financial officer now owns 34,210 shares of the company’s stock, valued at approximately $2,149,756.40. The disclosure for this sale can be found here. Insiders sold a total of 25,588 shares of company stock valued at $1,610,567 in the last three months. Insiders own 0.12% of the company’s stock.

Newmont Profile

Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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