Hexagon Capital Partners LLC Has $248,000 Holdings in Newmont Co. (NYSE:NEM)

Hexagon Capital Partners LLC grew its stake in Newmont Co. (NYSE:NEM) by 460.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,928 shares of the basic materials company’s stock after purchasing an additional 5,691 shares during the period. Hexagon Capital Partners LLC’s holdings in Newmont were worth $248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC raised its stake in shares of Newmont by 6.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 18,708 shares of the basic materials company’s stock valued at $691,000 after purchasing an additional 1,208 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Newmont during the 3rd quarter worth about $347,000. Gotham Asset Management LLC boosted its position in shares of Newmont by 46.2% during the 3rd quarter. Gotham Asset Management LLC now owns 68,115 shares of the basic materials company’s stock valued at $2,517,000 after acquiring an additional 21,536 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Newmont by 129.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 268,426 shares of the basic materials company’s stock valued at $9,918,000 after acquiring an additional 151,500 shares during the period. Finally, United Services Automobile Association raised its position in Newmont by 26.9% in the third quarter. United Services Automobile Association now owns 22,609 shares of the basic materials company’s stock worth $835,000 after purchasing an additional 4,788 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Securities upped their price objective on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Bank of America upped their target price on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Scotiabank lifted their price target on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Finally, National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.13.

Newmont Stock Performance

Shares of NEM opened at $41.65 on Tuesday. The stock’s fifty day simple moving average is $41.67 and its 200-day simple moving average is $38.10. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $45.92. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the company posted $0.40 EPS. The company’s revenue was up 50.2% compared to the same quarter last year. Research analysts predict that Newmont Co. will post 2.48 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Newmont’s dividend payout ratio is currently -37.45%.

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.