Newmont Co. (NYSE:NEM) Shares Purchased by Excalibur Management Corp

Excalibur Management Corp increased its holdings in shares of Newmont Co. (NYSE:NEM) by 9.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,026 shares of the basic materials company’s stock after purchasing an additional 1,154 shares during the quarter. Excalibur Management Corp’s holdings in Newmont were worth $545,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. American International Group Inc. grew its position in Newmont by 24.8% in the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock valued at $12,116,000 after acquiring an additional 58,217 shares in the last quarter. Premier Fund Managers Ltd acquired a new stake in Newmont in the fourth quarter valued at approximately $1,276,000. Nations Financial Group Inc. IA ADV acquired a new stake in Newmont in the fourth quarter valued at approximately $1,167,000. Virtu Financial LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $3,313,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Newmont by 26.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 184,604 shares of the basic materials company’s stock valued at $7,641,000 after buying an additional 39,053 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $53.15 on Tuesday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $54.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The business’s fifty day moving average price is $49.50 and its two-hundred day moving average price is $43.04. The firm has a market capitalization of $61.29 billion, a PE ratio of -19.91, a P/E/G ratio of 0.37 and a beta of 0.49.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. On average, research analysts expect that Newmont Co. will post 2.82 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont 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 of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,000 shares of company stock valued at $2,744,700. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. Bank of America increased their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and increased their target price for the company from $40.00 to $50.00 in a research note on Monday, June 17th. BMO Capital Markets increased their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.46.

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.