Procyon Advisors LLC Purchases 817 Shares of Newmont Co. (NYSE:NEM)

Procyon Advisors LLC lifted its position in Newmont Co. (NYSE:NEM) by 5.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,881 shares of the basic materials company’s stock after buying an additional 817 shares during the period. Procyon Advisors LLC’s holdings in Newmont were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. HighPoint Advisor Group LLC increased its position in shares of Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 219 shares during the last quarter. Rothschild Investment LLC boosted its stake in Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock worth $135,000 after buying an additional 219 shares during the period. Keel Point LLC increased its position in Newmont by 2.0% during the fourth quarter. Keel Point LLC now owns 14,774 shares of the basic materials company’s stock valued at $550,000 after acquiring an additional 287 shares during the last quarter. Howard Capital Management Inc. raised its stake in shares of Newmont by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 292 shares during the period. Finally, Intact Investment Management Inc. lifted its holdings in shares of Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 3.9%

NYSE:NEM opened at $52.36 on Friday. The stock has a market capitalization of $58.28 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. 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 firm has a 50 day moving average of $52.16 and a 200 day moving average of $45.99.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the prior year, the business posted $0.55 EPS. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 22.42%.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now owns 45,180 shares of the company’s stock, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,154 shares of company stock valued at $381,539. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and upped their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. TD Securities cut their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.68.

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.