Mcintyre Freedman & Flynn Investment Advisers Inc. Increases Position in Newmont Co. (NYSE:NEM)

Mcintyre Freedman & Flynn Investment Advisers Inc. increased its stake in shares of Newmont Co. (NYSE:NEM) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,410 shares of the basic materials company’s stock after buying an additional 1,353 shares during the quarter. Newmont comprises approximately 2.2% of Mcintyre Freedman & Flynn Investment Advisers Inc.’s investment portfolio, making the stock its 15th biggest holding. Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings in Newmont were worth $2,918,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC boosted its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont in the third quarter valued at $28,000. HHM Wealth Advisors LLC boosted its holdings in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Promus Capital LLC purchased a new stake in Newmont in the fourth quarter valued at $38,000. Finally, McIlrath & Eck LLC boosted its stake in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 3.6 %

NEM stock opened at $42.30 on Tuesday. The company has a market cap of $47.67 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $33.29 and a 12 month high of $58.72. The firm has a 50-day moving average of $42.63 and a two-hundred day moving average of $45.93.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. Newmont’s dividend payout ratio is currently 34.13%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NEM. Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Finally, Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’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 transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock worth $1,388,758 in the last 90 days. Insiders own 0.06% of the company’s stock.

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.