Newmont Co. (NYSE:NEM) Shares Acquired by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. grew its stake in Newmont Co. (NYSE:NEM) by 119.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,241 shares of the basic materials company’s stock after purchasing an additional 6,127 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Newmont were worth $403,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NEM. Meeder Advisory Services Inc. grew its holdings in shares of Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after buying an additional 278 shares in the last quarter. Grey Street Capital LLC grew its holdings in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after buying an additional 289 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after buying an additional 296 shares in the last quarter. Reitz Capital Advisors LLC boosted its position in Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares during the last quarter. Finally, Berkeley Capital Partners LLC boosted its position in Newmont by 5.6% during the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NEM. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Jefferies Financial Group lifted their price objective on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets reduced their price objective on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Sanford C. Bernstein reduced their price objective 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. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.21.

Newmont Stock Performance

Shares of NYSE NEM traded up $1.05 during trading hours on Tuesday, hitting $48.40. 4,198,070 shares of the company’s stock were exchanged, compared to its average volume of 11,478,905. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $48.61. 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 stock has a market capitalization of $55.81 billion, a price-to-earnings ratio of -17.74, a PEG ratio of 0.40 and a beta of 0.47. The company’s 50-day moving average price is $42.54 and its 200-day moving average price is $38.33.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. The firm’s revenue was up 50.2% compared to the same quarter last year. On average, sell-side analysts expect that Newmont Co. will post 2.48 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont’s dividend payout ratio is -37.45%.

Newmont Company 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.