BigSur Wealth Management LLC Takes $570,000 Position in Newmont Co. (NYSE:NEM)

BigSur Wealth Management LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,800 shares of the basic materials company's stock, valued at approximately $570,000.

Several other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Newmont during the fourth quarter valued at $626,074,000. Voloridge Investment Management LLC acquired a new stake in Newmont during the 4th quarter worth about $92,693,000. Capital Research Global Investors grew its stake in Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after purchasing an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $76,281,000. Finally, Invesco Ltd. raised its stake in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on NEM. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. TD Securities dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. Argus set a $63.00 price objective on shares of Newmont in a research note on Friday, April 25th. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and a consensus target price of $57.68.

Newmont Price Performance

NEM traded up $1.95 during trading on Friday, hitting $57.87. The company's stock had a trading volume of 19,673,056 shares, compared to its average volume of 10,351,984. The firm has a market capitalization of $64.41 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The business's fifty day simple moving average is $53.00 and its 200 day simple moving average is $46.38. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now owns 47,257 shares in the company, valued at $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock valued at $381,539. 0.05% of the stock is owned by corporate insiders.

Newmont 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.