Bcwm LLC Decreases Stock Position in Newmont Co. (NYSE:NEM)

Bcwm LLC decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 69.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,728 shares of the basic materials company’s stock after selling 68,928 shares during the period. Bcwm LLC’s holdings in Newmont were worth $1,245,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. American International Group Inc. raised its stake in shares of Newmont by 24.8% in the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after purchasing an additional 58,217 shares during the last quarter. Premier Fund Managers Ltd acquired a new position in Newmont in the 4th quarter worth approximately $1,276,000. Nations Financial Group Inc. IA ADV purchased a new position in Newmont during the 4th quarter worth approximately $1,167,000. Virtu Financial LLC purchased a new stake in shares of Newmont during the 4th quarter worth about $3,313,000. Finally, Oppenheimer & Co. Inc. grew its position 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 acquiring an additional 39,053 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the sale, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the sale, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $2,744,700 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Newmont Trading Up 1.6 %

NEM opened at $53.71 on Monday. 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 company’s 50 day simple moving average is $49.32 and its two-hundred day simple moving average is $42.88. The firm has a market capitalization of $61.63 billion, a price-to-earnings ratio of -20.12, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $54.25.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate 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 was up 64.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. Analysts expect that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Thursday, August 29th. Finally, UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $50.00 in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.