Foundry Partners LLC Acquires 52,560 Shares of Newmont Co. (NYSE:NEM)

Foundry Partners LLC boosted its position in Newmont Co. (NYSE:NEM) by 24.8% during the second quarter, Holdings Channel reports. The institutional investor owned 264,783 shares of the basic materials company’s stock after purchasing an additional 52,560 shares during the quarter. Foundry Partners LLC’s holdings in Newmont were worth $11,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manchester Capital Management LLC raised its position in Newmont by 171.9% in the 4th 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 acquired a new stake in Newmont in the 1st quarter valued at approximately $25,000. Heritage Wealth Advisors raised its position in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Newmont in the 1st quarter valued at approximately $35,000. Finally, Advantage Trust Co acquired a new stake in Newmont in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock traded down $0.92 during trading on Friday, reaching $51.01. 1,206,955 shares of the company’s stock were exchanged, compared to its average volume of 10,539,157. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $58.82 billion, a PE ratio of -19.44, a PEG ratio of 0.39 and a beta of 0.47. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $53.88. The firm’s fifty day moving average price is $48.26 and its 200-day moving average price is $41.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion during 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 quarterly revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 EPS. As a group, sell-side analysts anticipate that Newmont Co. will post 2.82 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.96%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock worth $2,744,700 in the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent analyst reports. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and boosted their price target for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Finally, Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $51.46.

About Newmont

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.