Bard Financial Services Inc. Acquires 23,675 Shares of Newmont Co. (NYSE:NEM)

Bard Financial Services Inc. lifted its position in Newmont Co. (NYSE:NEM - Free Report) by 27.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,855 shares of the basic materials company's stock after buying an additional 23,675 shares during the period. Bard Financial Services Inc.'s holdings in Newmont were worth $5,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CX Institutional lifted its position in shares of Newmont by 28.7% during the 1st quarter. CX Institutional now owns 6,657 shares of the basic materials company's stock valued at $321,000 after acquiring an additional 1,483 shares during the last quarter. Integrated Advisors Network LLC acquired a new stake in shares of Newmont during the first quarter worth $339,000. Handelsbanken Fonder AB lifted its holdings in shares of Newmont by 3.3% during the first quarter. Handelsbanken Fonder AB now owns 492,206 shares of the basic materials company's stock valued at $23,764,000 after purchasing an additional 15,792 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Newmont in the 1st quarter valued at $213,000. Finally, Central Valley Advisors LLC purchased a new position in Newmont in the 1st quarter worth about $1,726,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the transaction, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a 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 on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock worth $381,539 over the last three months. Corporate insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NEM. Argus set a $63.00 price objective on shares of Newmont in a research note on Friday, April 25th. Royal Bank of Canada upped their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Finally, Raymond James reaffirmed an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Stock Up 3.8%

NYSE:NEM traded up $2.04 during mid-day trading on Thursday, reaching $55.35. The stock had a trading volume of 6,157,142 shares, compared to its average volume of 10,249,179. The stock has a market cap of $61.60 billion, a P/E ratio of 18.89, a PEG ratio of 0.41 and a beta of 0.31. The business's 50 day moving average is $52.51 and its 200 day moving average is $46.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

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.