Signaturefd LLC Acquires 1,304 Shares of Newmont Co. (NYSE:NEM)

Signaturefd LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,684 shares of the basic materials company’s stock after purchasing an additional 1,304 shares during the quarter. Signaturefd LLC’s holdings in Newmont were worth $950,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its stake in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares during the last quarter. LRI Investments LLC bought a new position in shares of Newmont during the 1st quarter valued at approximately $25,000. Heritage Wealth Advisors grew its holdings in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares in the last quarter. Crewe Advisors LLC bought a new stake in Newmont in the first quarter worth $35,000. Finally, Advantage Trust Co purchased a new stake in Newmont during the fourth quarter valued at $41,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NEM. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $50.00 in a report on Monday, June 17th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $48.00 to $59.00 in a research report on Monday, August 19th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and raised their price target for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group boosted their price objective on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Newmont Trading Up 0.4 %

Shares of NYSE:NEM traded up $0.22 during trading on Friday, reaching $53.40. 8,670,391 shares of the company were exchanged, compared to its average volume of 10,656,988. The business’s fifty day simple moving average is $47.21 and its 200-day simple moving average is $41.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $53.88. The firm has a market capitalization of $61.58 billion, a PE ratio of -20.00, a P/E/G ratio of 0.37 and a beta of 0.47.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period last year, the business posted $0.33 EPS. Newmont’s quarterly revenue was up 64.1% on a year-over-year basis. On average, research analysts anticipate that Newmont Co. will post 2.76 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Newmont’s payout ratio is presently -37.45%.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

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.