BI Asset Management Fondsmaeglerselskab A S Buys 18,661 Shares of Newmont Co. (NYSE:NEM)

BI Asset Management Fondsmaeglerselskab A S raised its stake in Newmont Co. (NYSE:NEM) by 51.1% during the 1st quarter, Holdings Channel reports. The fund owned 55,161 shares of the basic materials company’s stock after acquiring an additional 18,661 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Newmont were worth $1,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Grey Street Capital LLC increased its holdings in shares of Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after purchasing an additional 289 shares during the period. Moody National Bank Trust Division increased its holdings in shares of Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after purchasing an additional 296 shares during the period. Reitz Capital Advisors LLC increased its holdings in shares of Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after purchasing an additional 298 shares during the period. Berkeley Capital Partners LLC increased its holdings in shares of Newmont by 5.6% during the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock worth $247,000 after purchasing an additional 318 shares during the period. Finally, Crestmont Private Wealth LLC increased its holdings in shares of Newmont by 4.9% during the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 319 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Newmont 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 completion of the sale, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $45.46 on Thursday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $45.92. The firm’s fifty day moving average is $42.17 and its 200-day moving average is $38.24. The firm has a market cap of $52.42 billion, a PE ratio of -17.03, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $0.40 earnings per share. Newmont’s quarterly revenue was up 50.2% on a year-over-year basis. Sell-side analysts predict that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio is presently -37.45%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. BMO Capital Markets lowered their target price on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $50.00 in a research note on Monday, June 17th. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the company from $46.00 to $61.00 in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday. Finally, BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.07.

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.