BFI Infinity Ltd. Invests $596,000 in Newmont Co. (NYSE:NEM)

BFI Infinity Ltd. bought a new stake in shares of Newmont Co. (NYSE:NEM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,010 shares of the basic materials company’s stock, valued at approximately $596,000. Newmont accounts for approximately 0.6% of BFI Infinity Ltd.’s portfolio, making the stock its 16th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Hoese & Co LLP acquired a new stake in shares of Newmont in the 3rd quarter valued at approximately $27,000. Avior Wealth Management LLC grew its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Newmont during the 3rd quarter valued at $28,000. Highline Wealth Partners LLC acquired a new stake in shares of Newmont during the third quarter valued at about $32,000. Finally, McIlrath & Eck LLC increased its stake in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEM. CLSA started coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred 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 transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is currently owned by insiders.

Newmont Stock Performance

NYSE NEM opened at $42.00 on Thursday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The firm has a market cap of $47.81 billion, a P/E ratio of -27.63, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $40.49 and its 200-day moving average is $46.90.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. Sell-side analysts predict that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

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.