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

Bcwm LLC decreased its position in shares of Newmont Co. (NYSE:NEM) by 69.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Several other large investors have also recently made changes to their positions in NEM. Redwood Wealth Management Group LLC purchased a new position in Newmont during the 2nd quarter valued at approximately $188,000. Wilkins Investment Counsel Inc. grew its holdings in shares of Newmont by 1.7% in the second quarter. Wilkins Investment Counsel Inc. now owns 607,608 shares of the basic materials company’s stock valued at $25,441,000 after purchasing an additional 10,241 shares in the last quarter. Inspire Advisors LLC increased its position in Newmont by 2.2% in the second quarter. Inspire Advisors LLC now owns 32,934 shares of the basic materials company’s stock worth $1,379,000 after purchasing an additional 697 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Newmont by 129.6% during the second quarter. Envestnet Asset Management Inc. now owns 544,178 shares of the basic materials company’s stock valued at $22,785,000 after purchasing an additional 307,212 shares in the last quarter. Finally, Vima LLC lifted its position in Newmont by 5.0% during the second quarter. Vima LLC now owns 12,877 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 608 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 1.6 %

NEM stock 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 has a market capitalization of $61.63 billion, a PE ratio of -20.12, a P/E/G ratio of 0.37 and a beta of 0.49. The firm’s 50-day moving average is $49.32 and its 200 day moving average is $42.88. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $54.25.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, research analysts anticipate that Newmont Co. will post 2.82 EPS for the current year.

Newmont Announces Dividend

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. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. Newmont’s payout ratio is currently -37.45%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock valued at $2,744,700 over the last three months. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on NEM shares. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. Jefferies Financial Group boosted their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. BMO Capital Markets raised their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Five equities research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.46.

Newmont Company 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.