Bard Financial Services Inc. Buys 6,275 Shares of Newmont Corporation $NEM

Key Points

• Bard Financial Services Inc. increased its stake in Newmont Corporation by 5.7%, acquiring an additional 6,275 shares, bringing its total holdings to 116,130 shares worth approximately $6.77 million.
• Several hedge funds have recently changed their stakes in Newmont, with SOA Wealth Advisors reporting a 64% increase in their holdings during the first quarter.
• Newmont's stock underwent mixed analyst ratings, with Macquarie lowering it to "hold," while UBS raised its price target and maintained a "buy" rating.

Bard Financial Services Inc. boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,130 shares of the basic materials company's stock after acquiring an additional 6,275 shares during the period. Bard Financial Services Inc.'s holdings in Newmont were worth $6,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. increased its stake in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Newmont in the 1st quarter valued at $26,000. Colonial Trust Advisors increased its stake in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 347 shares during the last quarter. Finally, Nexus Investment Management ULC bought a new position in shares of Newmont in the 1st quarter valued at $31,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director owned 38,949 shares in the company, valued at $2,905,205.91. This trade represents a 5.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,246 shares of company stock worth $1,253,559. Insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent analyst reports. Macquarie lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. UBS Group lifted their price target on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Stifel Nicolaus initiated coverage on Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 price objective on shares of Newmont in a report on Tuesday, July 8th. Finally, Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.38.

Newmont Trading Down 0.5%

NYSE NEM opened at $79.25 on Monday. The company has a market cap of $87.05 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.95 and a beta of 0.33. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $80.07. The business's fifty day moving average is $67.46 and its 200 day moving average is $57.25. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business's revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's payout ratio is 17.95%.

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.

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