Newmont Corporation $NEM Shares Purchased by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL increased its stake in shares of Newmont Corporation (NYSE:NEM) by 53.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,050 shares of the basic materials company’s stock after purchasing an additional 3,500 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Newmont were worth $485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. raised its holdings in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the 1st quarter valued at about $26,000. Colonial Trust Advisors boosted its position in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the period. Private Trust Co. NA boosted its position in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 347 shares during the period. Finally, Nexus Investment Management ULC acquired a new stake in shares of Newmont in the 1st quarter valued at about $31,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective on the stock. CIBC set a $74.00 price objective on shares of Newmont and gave the company a “neutral” rating in a research note on Tuesday, July 15th. National Bankshares upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating in a research note on Friday, July 25th. Scotiabank lifted their price objective on shares of Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a research note on Monday, July 28th. Finally, National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $67.38.

Newmont Stock Performance

NYSE:NEM opened at $78.48 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $78.78. The stock has a market cap of $86.21 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.91 and a beta of 0.34. The firm’s fifty day simple moving average is $66.67 and its 200-day simple moving average is $56.56.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. Analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s payout ratio is 17.95%.

Insider Transactions at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,246 shares of company stock valued at $1,253,559 in the last 90 days. 0.05% of the stock is currently owned by insiders.

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.