Uncommon Cents Investing LLC Raises Stake in Newmont Co. (NYSE:NEM)

Uncommon Cents Investing LLC increased its stake in Newmont Co. (NYSE:NEM) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,845 shares of the basic materials company’s stock after buying an additional 670 shares during the period. Uncommon Cents Investing LLC’s holdings in Newmont were worth $568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Life Planning Partners Inc purchased a new position in shares of Newmont during the fourth quarter worth approximately $26,000. Manchester Capital Management LLC increased its holdings in Newmont by 171.9% during 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 during the period. CVA Family Office LLC bought a new stake in Newmont during the 4th quarter valued at $34,000. Advantage Trust Co bought a new stake in Newmont during the 4th quarter valued at $41,000. Finally, Rise Advisors LLC lifted 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 buying an additional 973 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 4.2 %

NYSE NEM traded up $1.74 during trading on Thursday, hitting $43.45. The company’s stock had a trading volume of 5,732,472 shares, compared to its average volume of 7,020,625. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $45.92. The company has a market cap of $50.10 billion, a PE ratio of -16.27, a P/E/G ratio of 0.35 and a beta of 0.47. 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 business’s 50 day simple moving average is $41.93 and its 200-day simple moving average is $38.14.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business earned $0.40 EPS. Newmont’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, equities analysts anticipate that Newmont Co. will post 2.48 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Wall Street Analyst Weigh In

NEM has been the subject of several recent research reports. Scotiabank lifted their price objective on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Bank of America boosted their price target on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. BMO Capital Markets dropped their price objective on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. TD Securities boosted their price objective on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $50.00 in a report on Monday, June 17th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.13.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the sale, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

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.