Newmont Co. (NYSE:NEM) Shares Acquired by Confluence Investment Management LLC

Confluence Investment Management LLC boosted its stake in Newmont Co. (NYSE:NEM) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,855 shares of the basic materials company’s stock after purchasing an additional 805 shares during the period. Confluence Investment Management LLC’s holdings in Newmont were worth $454,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in Newmont in the 1st quarter valued at $25,000. Manchester Capital Management LLC lifted its position in shares of Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares during the last quarter. Heritage Wealth Advisors lifted its position in shares of Newmont by 1,310.4% during the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 878 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Newmont during the first quarter worth about $35,000. Finally, Rise Advisors LLC lifted its holdings in Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 973 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 2.7 %

Shares of NYSE:NEM traded down $1.33 during trading on Monday, reaching $47.18. 4,717,759 shares of the company traded hands, compared to its average volume of 11,206,846. The firm has a fifty day simple moving average of $43.95 and a 200 day simple moving average of $39.19. The firm has a market cap of $54.14 billion, a P/E ratio of -18.17, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.72. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Analysts anticipate that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 2.12%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction 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 transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. TD Securities raised their target price on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, April 26th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price target on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.00.

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.